Sunday, July 02, 2006
Mayor Sottile sees City of Kingston credit rating skyrocket
The city of Kingston credit rating goes up once again during the Sottile administration this time by 2 full points going from a Baa 1 to an A rating, this is great news for The City of Kingston said Blaber this higher credit rating will allow the city to borrow money at a lower credit rating therefore lowering taxes.
Mayor Sottile's work in this effort is a great indication that he does not just settle when it comes to the city and it's residents, he worked hard to get the best rating possible and in the end his efforts paid off.
Mayor James Sottile called the new "A" rating by Standard & Poor's an indication of the improving health of city finances and said the rating will help the city get lower interest rates when it borrows money.
Earlier this year, the city was rated "Baa1" by Moody's Investor Service, two points below the Standard & Poor's rating.
Alderman Rich Cahill, accused the Mayor of ratings shopping, although such a comment does not warrant a response, I will say this Alderman Cahill has criticized every move made by Mayor Sottile yet he has offered no solutions. Mr. Cahill needs to remember that he can no longer throw snowballs from the outside, he is an alderman and held at a higher standard.
Posted by Jeremy Blaber at 9:41 PM