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MOODY's GIVES GREENBURGH VERY HIGH BOND RATING
Release Date: July 23, 2003

Moody's, which has upgraded Greenburgh's bond rating 3 times in recent years, gave Greenburgh it's 2nd highest rating: Aa1 today. Moody's highlighted Greenburgh's "Strong financial position with substantial reserves, growing and substantial residential and commercial tax base and below average level of rapidly amortized debt." They praised our "STRONG FINANCIAL POSITION, GIVEN PRUDENT FISCAL MANAGEMENT AND EXCELLENT PROPERTY TAX COLLECTIONS." 77.3% of debt has been paid in 10 years. Moody's believes our town's debt burden will remain below average. "Full value, has grown at an average annual rate of 13.7% over the last five years, indicative of significant market value appreciation."

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