S&P Global Ratings lowered its rating one notch to ?A? from ?A+? on the Town of Nunda , N.Y.?s 2022 general obligation (GO) public improvement serial bonds. The outlook is stable. The downgrade reflects the town?s nominally low fund balance reserve position that has been volatile in recent years, which limits its ability to absorb future operating pressures. The rating reflects the application of our criteria, " Methodology For Rating U.S. Governments ," published Sept. 9, 2024. The town?s faith and credit pledge secures the debt. The rating reflects the town's and Livingston County's stable but relatively weak economic metrics compared with those of the nation, low population base, and nominally low available reserves. Economic development is anticipated within the
