Poughkeepsie, NY 'BBB+' Issuer Credit Rating Affirmed On Criteria Application; Outlook Positive

NEW YORK (S&P Global Ratings) Nov. 25, 2024—S&P Global Ratings affirmed its 'BBB+' issuer credit rating (ICR) on Poughkeepsie, N.Y.'s, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. The outlook is positive. We also removed the rating from Under Criteria Observation (UCO). We had placed the rating on UCO pending our review, following the publication of the criteria. "The 'BBB+' rating reflects our view of the city's proactive management team, improved reserve position, and manageable debt levels," said S&P Global Ratings credit analyst Lauren Freire. Economic headwinds in the form of inflationary expense pressures and the city's ability to maintain revenue growth in a tight operating environment temper our view. An

...November 25, 2024 NEW YORK (S&P Global Ratings) Nov. 25, 2024--S&P Global Ratings affirmed its '###+' issuer credit rating (ICR) on Poughkeepsie, N.Y.'s, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. The outlook is positive. We also removed the rating from Under Criteria Observation (UCO). We had placed the rating on UCO pending our review, following the publication of the criteria. "The '###+' rating reflects our view of the city's proactive management team, improved reserve position, and manageable debt levels," said S&P Global Ratings credit analyst Lauren Freire. Economic headwinds in the form of inflationary expense pressures and the city's ability to maintain revenue growth in a tight operating environment temper our view. An ICR reflects the obligor's general creditworthiness. There is no rated debt associate with this is rating. "The positive outlook reflects what we believe is a one-in-three chance that we...

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