Summary: City Of Poughkeepsie, New York; General Obligation

S&P Global Ratings raised its issuer credit rating (ICR) on the City of Poughkeepsie, N.Y., to 'BBB+' from BBB'. The outlook is positive. The one notch upgrade and positive outlook reflect the improvement in the city's fund balance, as management resolved long-dated payables bringing fund balance levels from a negative 12.4% of expenditures to a positive 2.7% of expenditures. The positive outlook reflects our expectation that management will continue to work toward growing its general fund balance while continuing to address its backlog of capital projects and maintaining prudent management strategies. An ICR reflects the obligor's general creditworthiness. The rating is not specific to a given debt issue as it does not consider the security and other credit and legal

...+ S&P Global Ratings raised its issuer credit rating (ICR) on the City of Poughkeepsie, N.Y., to '###+' from ###'. + The outlook is positive. + The one notch upgrade and positive outlook reflect the improvement in the city's fund balance, as management resolved long-dated payables bringing fund balance levels from a negative 12.4% of expenditures to a positive 2.7% of expenditures. + The positive outlook reflects our expectation that management will continue to work toward growing its general fund balance while continuing to address its backlog of capital projects and maintaining prudent management strategies....

Summary