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Posted on: June 5, 2019

PRESS RELEASE - Standard & Poors Affirms AA Rating for Town of Red Hook

Town of Red Hook
7340 South Broadway
Red Hook, NY 12571
845-758-4600
Fax 845-758-5313
www.redhook.org

Press Release
Contact:  Robert McKeon, Supervisor
Phone:     (845) 758-4622   

FOR IMMEDIATE RELEASE
JUNE 4, 2019                                               

STANDARD & POORS© AFFIRMS AA RATING FOR TOWN OF RED HOOK

Standard & Poors Global Ratings is affirming its upgraded (2016) AA rating on Red Hook, New York’s general obligation (GO) debt with a stable outlook.

In its report, Standard & Poors cites:

  • Strong management
  • Strong economy with access to a broad and diverse metropolitan statistical area (MSA)
  • Very strong budgetary flexibility

“The rating action reflects our view of the Town’s strong management with good financial policies and practices” under our Financial Management Assessment - S & P Global Report 5/29/19.

This very positive report is a reflection of all the good work by volunteers and employees over the years.  It is particularly noteworthy that we’ve managed to strengthen the Town’s finances over the last few years while avoiding any increases to the tax rate.

To read the full report, go to www.redhook.org and click on the link.


 


S and P Global-Red Hook, NY; General Obligation
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