Moody's Confirms Ithaca NY's Aa2 Bond Rating and MIG 1 2016 Series C BAN Rating
New York, January 26, 2017-- Summary Rating Rationale. Moody's Investors Service has confirmed city of Ithaca, NY's general obligation rating at Aa2 and general obligation Bond Anticipation Notes 2016 Series C at MIG 1. Concurrently, we have removed the ratings from under review, as our confirmation resolves this action. Moody's placement of the rating under review on January 3, 2017 was prompted by a lack of audited financial information, which we have since received.
Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:
- 130 countries
11,000 corporate issuers
21,000 public finance issuers
76,000 structured finance obligations
Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.
Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.
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