Moody’s Investors Service has assigned an A2 bond rating for the City of Binghamton.
A bond rating represents the creditworthiness of a corporation or government bond.
The report states that the city’s financial position is improving with healthy reserves although some of the special revenue funds are not self-supporting.
Moody’s outlook rating says that the city’s financial position will remain healthy in the near term with limited growth in the tax base.
Mayor Rich David says as many municipalities struggle to maintain fiscal health, Binghamton continues to improve its finances.