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Ogdensburg's credit rating lowered due to budget issues
Posted by news on 6/22/2017 4:34:00 AM.
Cash-strapped Ogdensburg has already been dealing with budget issues and now its credit rating has been dropped by two points.

The Watertown Daily Times reports that Moody's Investors Service lowered the city's bond rating, a move made because of a severe budget crunch, a small tax base and high amounts of tax-exempt properties. On top of the downgrade, the city manager told the Times that big changes are needed in order to improve the credit rating.

There is some hope from Moodys, though, as officials recommend working with the state to find potential financial relief.

Ogdensburg, New York, credit rating, budget