Town of Beekman Maintains Aa3 Credit Rating, Sheds Negative Outlook.
On January 18, 2017, Moody’s Investor Services affirmed the Town of Beekman’s Aa3 Credit Rating and removed the “Negative Outlook”. Beekman shares the 2nd highest Moody’s credit rating among 1st class towns in Dutchess County (LaGrange @ #1 with Aa2). Aa3 means that its long-term debt is “rated as high quality and very low credit risk.” The “negative outlook” was assigned in 2015 in wake of the Fred Knapp scandal. “It appears that Moody’s feels that we’ve cleaned up the mess we inherited in 2014. I’d like to thank Town Comptroller Andrew Forman, former Town Bookkeeper Bill Brady and Sen. Terrence Murphy’s office for their efforts in restoring our unblemished Aa3 rating”, said Supervisor Barbara Zulauf. Moody’s further stated in its report, which can be found on the Town of Beekman website at http://www.TownofBeekman.com, that the removal of the Town’s previous negative outlook reflects the Town’s “stable financial position.”
