Broome County Receives A1 Rating from Moody's Investors Service
Broome County has received an upgrade to its financial rating for the first time in a dozen years.
Moody's Investors Service, an international financial research institution, gave Broome a bump from A2 to A1. Broome had been A2 since 2011.
The growing tax base and the elimination of cash flow borrowing were the primary reasons for the upgrade. Another factor for the new rating was the work of the county government.
Last fall, Broome County received a score of 6.3 out of 100 from the state Comptroller's Office, which correlated a "no designation" for fiscal stress, which was the best possible classification.