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Moody’s upholds Southold Town’s rating

12/21/2018 6:00 AM |

Moody’s Investors Service gave Southold Town an excellent report for 2018 with an Aa1 rating, which is higher than the median for U.S. cities. This rating has not changed since 2015.

“It views Southold’s profile as very good,” Supervisor Scott Russell said during a Tuesday morning work session.

The report also said the town was in a good credit position and had an exceptionally light debt burden. Its bond rating is also higher than the median.

Southold was applauded for its tax base, at $449,967 full value per capita, an increase of 1.7 percent from 2017.

Kristie Hansen-Hightower, the town comptroller, said Southold has been on the cusp of a AAA rating for a while, since it fares well compared to other New York cities.

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