Moody’s Investors Service upgraded the Village of Mineola’s credit rating from Aa3 to Aa2, according to a village news release.
Moody’s cited the village’s improved reserves and liquidity as well as the village’s sizable and growing tax base for the upgrade, according to the release.
Mayor Scott Strauss said in the release that he and the board are “extremely pleased that Moody’s has recognized the great strides made by the Village of Mineola in improving its financial condition.”
“Moody’s has validated something we already knew, that the Village of Mineola is as strong today as it has ever been in its history,” Strauss said.
Last week the Mineola village board adopted a $26.14 million budget which called for no increase in the tax levy for the third consecutive year.
The improved credit rating opens Mineola up to greater access to the credit markets on more favorable terms, should future borrowing become appropriate, according to the release.
“We look forward to continuing to serve the village residents and to make sure that Mineola continues to be a great place to live, raise a family and own a business,” Strauss said.