According to the financial group, Moody’s Investment Services, they recently withdrew ratings for 25 municipalities in New York state due to a policy set in place in 2013. The policy from Moody’s requires that towns and other municipalities must have an annual audit completed or verified by a consultant outside of the state. Officials for Airmont stated that private consultants cost about $20,000 and the village chose to save money to keep below the tax cap. The village’s rating was released as an upper-medium grade, but without a 2013 independent audit, the rating has been withdrawn.
Moody’s Withdraws Airmont’s Rating
January 19, 2015 By
