JERSEY CITY — Citing Jersey City’s strong and rapidly growing tax base, a growing economy, and the “improved management policies” of the Fulop administration, Moody’s last week increased the credit rating of Jersey City’s General Obligation (GO) debt from A1 to Aa3, marking the third consecutive credit rating increase under the Fulop administration and the second such move by Moody’s.
“From the very beginning, we’ve taken a forward-looking approach to fiscal planning, focusing on making Jersey City more fiscally sound, while investing in public safety, new parks, increased recreation, and other quality-of-life issues – all without raising taxes,” said Mayor Steven Fulop. “Receiving yet another credit rating upgrade is strong validation that we are on the right track, but there is always more work to do and my administration remains focused on moving Jersey City forward.”
Moody’s report specifically cites the success of Mayor Fulop’s fiscal management policy as an important factor contributing to the City’s improving financial position.
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