Frankfort, N.Y., Raised by Moody's

December 2004
Bond Buyer;12/20/2004, Vol. 350 Issue 32033, p2
Trade Publication
The article reports that Moody's Investors Service Inc. has upgraded the village of Frankfort, New York, affecting $4.3 million of outstanding general obligation debt. The upgrade reflects the restoration of satisfactory financial margins evident in a fiscal 2004 19% general fund balance, up from negative 3% in fiscal 1998. Moody's believes the village has demonstrated a trend of improved financial management evident in operating surpluses in four of the past five years based on documents submitted to the state as the village does not obtain independent audits.


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