Printer Friendly

MOODY'S UPGRADES HARRISON, N.Y., GENERAL OBLIGATION RATING FROM 'Aa' TO 'Aa1'

 MOODY'S UPGRADES HARRISON, N.Y., GENERAL OBLIGATION RATING
 FROM 'Aa' TO 'Aa1'
 NEW YORK, June 2 /PRNewswire/ -- Effective today, Moody's Investors Service upgraded the general obligation bond rating of Harrison, N.Y., from "Aa" to "Aa1." The review was completed in conjunction with the sale of $7.7 million of Public Improvement (Serial) bonds, scheduled for bids June 4.
 In raising the rating, Moody's noted that "Harrison possesses an exceptionally strong tax base anchored by the corporate headquarters of Texaco, Inc. and Pepsico, Inc. and some of the most expensive residential real estate in the New York City metropolitan area. The past two years of pronounced recession in the northeast have had minimal effect on Harrison as finances have been well maintained and property tax collections have remained particularly strong. Supplemental revenues from a new 1 percent increase in the county sales tax will be available to the village for the next several years, providing additional credit support even if the recession continues. The debt burden is low with a large portion comprised of water and sewer borrowing. Only minor future borrowing is anticipated for the next several years."
 This rating action supplies to $15.5 million of general obligation bonds including the scheduled sales of $7.7 million of general obligation bonds on June 4.
 -0- 6/2/92
 /CONTACT: Michael Johnston of Moody's, 212-553-7810/ CO: ST: New York IN: SU: RTG


PS -- NY069 -- 6382 06/02/92 16:42 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 2, 1992
Words:242
Previous Article:PRELIMINARY VOTING RESULTS ANNOUNCED BY GREAT LAKES SHAREHOLDER
Next Article:NOBILITY HOMES, INC. STATEMENTS OF OPERATIONS for the years ended Nov. 2, 1991, Oct. 27, 1990, and Oct 28, 1989


Related Articles
MOODY'S LOWERS NEW HAMPSHIRE GENERAL OBLIGATION BOND RATING TO Aa FROM Aa1
ALMOST $36 BILLION AFFECTED BY FIRST QUARTER MUNICIPAL BOND RATING REVISIONS; CALIFORNIA AND N.Y. LOWERINGS ACCOUNT FOR OVER $30 BILLION
MOODY'S LOWERS STATE OF CALIFORNIA GENERAL OBLIGATION BOND RATING TO 'Aa' FROM 'Aa1'; LEASE-SUPPORTED RATINGS REVISED FROM 'Aa' TO 'A1'
MOODY'S CONFIRMS RATING ON THE CITY OF LOS ANGELES, CALIFORNIA GENERAL OBLIGATION BONDS AT AAA JUDGMENT OBLIGATION BONDS RATED AA1
MOODY'S LOWERS ILLINOIS GENERAL OBLIGATION BOND RATING FROM 'AA1' TO 'AA'; ASSIGNS 'MIG 1' RATING TO CERTIFICATES OF AUGUST 1992
MOODY'S LOWERS NEW JERSEY BOND RATING FROM 'Aaa' TO 'Aa1'
MOODY'S LOWERS NEW JERSEY BOND RATING FROM 'Aaa' TO 'Aa1'
MOODY'S RATING AGENCY UPGRADES SEVEN ALASKA HOUSING FINANCE BOND ISSUES
Moody's upgrades CMBS deals due to increased terrorism insuance coverage. (Commercial).

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters