We are proud to announce that the Village of Airmont received a “AA” rating from Standard and Poor’s rating service. As one of this administration’s cost savings measures, the Village is refinancing its long term bonds. A well run Village our size would normally expect an A+ rating and would proceed accordingly. Our bond council took this expected rating into consideration and projected a $10,000 per year savings. After a thorough review by Standard and Poor’s, they rated us 2 levels above A+ to AA. I am happy to say that the new rating increases our savings, as I understand it, from $10,000 to $25,000. Over the life of the bonds, we are going to save $400,000 . It is important to note the high level of engagement it took to get this rating. We have been working diligently with the bond council and our advisers and have spent hours in meetings discussing the Village’s fiscal health and viability. Standard and Poor’s “AA” rating is a statement that comes back to the fact that we are pushing for fiscal responsibility and setting the village in a good long term course. This savings will help to avoid future tax increases and secure our financial stability. I’d say this is news to be celebrated, the residents can be proud of everyone and their hard work.
