Moody’s Investors Service has reaffirmed Westchester County’s Aa1 rating, after downgrading the county from Aaa in November.
The county’s bond rating downgrade has become an attack point for Democrats as County Executive Rob Astorino runs for governor against Andrew Cuomo. Astorino had repeatedly stressed the importance of preserving the county’s reserves in order to prevent a downgrade.
Moody’s noted the county’s wealthy tax base and borrowing for pensions in assigning the rating. The rating could be improved with the full payment of pension costs or an improvement in general fund liquidity and reserves.