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Financial Management

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Westchester's Bond Rating Upgraded By Fitch: 'Disciplined Financial Management' Westchester's Bond Rating Upgraded By Fitch: 'Disciplined Financial Management'
Westchester's Bond Rating Upgraded By Fitch: 'Disciplined Financial Management' Thanks to "disciplined financial management," Westchester's bond rating has been upgraded to the highest possible designation by Fitch ratings, county officials said.  The county's credit rating was upgraded by Fitch to a prestigious "AAA" credit rating, officials announced on Wednesday, Nov. 29.  County Executive George Latimer said the upgrade resulted from hard work and careful financial management.  "From day one, my administration has been committed to strong financial management, fiscal stability and prudent governance. This is a tremendous accomplishment for my a…

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by Ben Crnic
Business
Westchester County Loses AAA Credit Rating Westchester County Loses AAA Credit Rating
Westchester County Loses AAA Credit Rating Westchester’s financial report card saw its credit rating cut one level by two prominent agencies. Westchester County was notified by S&P Global Ratings and Fitch Ratings that the county’s financial outlook has been downgraded to AA+.  Moody’s assigned Aa1 to Westchester, officials announced on Tuesday afternoon. The county has now lost its AAA rating - the highest ranking available - in each of the Big 3 rating agencies. Bloomberg News cited Westchester's move to "draw down its cash reserves to cover retroactive raises given to government employees" as the primary reason fo…

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by Zak Failla