Moody’s Investors Service has recently notified the Village of Lindenhurst that the Village continues to maintain “a high quality credit position” and an Aa3 credit rating. “We are very pleased Moody’s has verified that the Village’s fiscal management is strong and our overall financial picture very positive” stated Lindenhurst Mayor Thomas Brennan.
According to Moody’s, the Village’s debt and pension burdens are low. In addition the U.S. median for similar debt and pension burden is higher than that of the Village.
Shawn Cullinane, Village Clerk-Treasurer stated “Our excellent bond rating enables the Village to finance projects, like the new Fire Department Main House, at a very low cost burden to our taxpayers. This is possible because we work hard each day to maintain a balanced budget and operate within our fiscal abilities.” According to Mr. Cullinane, “The Moody’s report confirms that we have run a strong financial program over the past few years, even during the economic downturn and the burdens imposed on Lindenhurst by ‘Superstorm Sandy’. Our surpluses and fund balances remain positive and overall debt negligible.”
Moody’s also stated that the economy and tax base and the financial position of the Village are very healthy. “This puts us in an excellent position to foster and support the various re-development plans currently before the Village,” stated Mayor Brennan.