S&P Global Ratings affirmed its 'BBB+' issuer credit rating (ICR) on Poughkeepsie , N.Y. The outlook is positive An ICR reflects the obligor's general creditworthiness. There is no rated debt associated with this rating. The rating affirmation reflects the city?s positive operating result and expanding, albeit nominally low, reserve position. 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. However, there is still a one-in-three chance we could raise the rating in the next year, since the city continues to rebuild reserves and tackle its backlog of capital projects. Positive operations in fiscal 2024 were supported by transfers in from the water fund. Despite
