Standard & Poor’s has upgraded to AA from AA-minus the general obligation rating of Westbury Village, N.Y.
Standard & Poor’s cited the village’s “strong financial performance during a period of economic pressure and tax levy constraints.”
Analysts also cited the village’s sizable property tax base with very strong wealth and income levels, strong financial position and moderate debt service.
Standard & Poor’s assigned the AA rating to the village’s $2.5 million of public improvement refunding GO bonds that are expected to refund outstanding bonds.
Westbury, with a population of around 14,474, covers 2.4 square miles in the town of North Hempstead in Nassau County, about 25 miles east of New York City.