The North Highlands Fire District in Philipstown is one of 62 local government entities whose bond rating is being reviewed by Moody’s Investors Service, the company announced last night. Their ratings are “on review with direction uncertain,” and a total of roughly $598 million in outstanding debt is affected, Moody’s said in a statement.
“The review is prompted by the lack of sufficient, current financial information,” Moody’s said in a statement. “If the information is not received over the next 30 days, we will take appropriate rating action which could include the withdrawal or lowering of the ratings.”
George Lisikatos, chairman of the North Highlands Fire District’s board of fire commissioners, said last night that he hadn’t heard about the news release from Moody’s and would have to check with the district secretary. The district is in the process of borrowing funds to purchase a new fire truck, he said.
Fifteen of the 62 local governments are in New York. Four are towns, one is a city and 10 are fire districts. The North Highlands Fire District is the only local government cited in Westchester, Rockland or Putnam counties. The Pleasant Valley Fire District in Dutchess County is also on the list.
Other states with local governments on the list are Arkansas, Georgia, Illinois, Kentucky, Minnesota, Missouri, North Dakota, New Hampshire, New Jersey, Ohio, Pennsylvania, Washington and Wisconsin. Local governments include towns, cities, counties, sewer districts, water districts, utility districts, park districts, a school district and a hospital district.
New York has more local governments on the list than any other state.