PRESS RELEASE: Village Bond Rating upgraded to AA+ by S&P

Tuckahoe, NY – The Village of Tuckahoe is proud to announce that on April 12, 2023 S&P Global Ratings upgraded the Village’s bond rating from AA to AA+ while concurrently assigning a stable outlook. Tuckahoe’s new AA+ rating will assist the Village by reducing interest payments on future debt.

“I am thrilled to hear that S&P has upgraded our bond rating,” said Mayor Andino. “It’s an indication of our strong fiscal stewardship despite the myriad of challenges faced in the past few years! Strong bond ratings allow us to be more flexible and efficient in financial policymaking by enhancing our ability to borrow and invest in our community.”

In announcing the upgrade, the rating agency cited Tuckahoe’s continued growth, healthy reserves, and strong budgetary performance. In particular, the report notes Tuckahoe’s substantial reserves, which over the past five years have grown by more than $700,000. Furthermore, the report cites several positive local economic indicators in the Village and a series of conservative budgeting practices coupled with regular budget monitoring by the administration as reasons for the upgrade. A copy of the full report can be found below.