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District Receives A+ Rating from Standard & Poor’s

Standard & Poor's Financial Services LLC confirmed its A+ Stable credit rating for the Hendrick Hudson School District. The November 8, 2021 rating was issued as part of the regular update of the district’s financial picture.

The report stated that “the district’s positive performance reflects proactive management and continuous monitoring of its current and future financial state, coupled with its ongoing goal to create operational efficiencies and raise revenue to maintain healthy finances.” Additionally the rating reflects “good financial management with well-embedded policies and planning” and “strong available reserves.”

Assistant Superintendent for Business Enrique Catalan said that he was proud of the report and the efforts of the district’s business office team. “It confirms that the difficult financial decisions we have been making are recognized and providing relief to taxpayers, especially in light of the closure of Indian Point," he said.

Among many of the report’s positive highlights were the district’s “strong finances despite long-term revenue pressure from lost PILOT revenue” and “good financial-management policies, focusing on long-term financial planning.”

Standard & Poor’s describes its credit ratings as “forward-looking opinions about credit risk. They express the agency’s opinion about the ability and willingness of an issuer, such as a corporation or state or city government, to meet its financial obligations in full and on time.”  The A+ rating indicates a “strong capacity to meet financial commitments.”

"This is very good news that I am excited to share with our community,” said Superintendent Hochreiter. “Knowing that Standard & Poor’s has given us a strong rating should reinforce our community's confidence in the district, given all of the fiscal hurdles we have overcome recently."

Click here to read the Standard & Poor’s report.