Rockville Centre receives high bond ratings

Moody’s Investor Services and Standard & Poor’s have affirmed their very high ratings for $8.2 million of Rockville Centre general obligation bonds that will be used to finance improvements to the electric and water utilities, road resurfacing and drainage projects, the rehabilitation of athletic fields and the purchase of vehicles for the Department of Public Works and the Fire Department.

Moody’s affirmed its Aa2 rating and Standard and Poor’s affirmed its AA+ rating, just one level below its highest. S&P cited Rockville Centre’s “very strong” wealth and income levels, its historically solid financial management, its adequate-to-good reserves and its rapid amortization of debt as reasons for its high rating.

The two credit ratings are among the very highest the agencies have assigned to Long Island municipalities.