JERSEY CITY – Jersey City Mayor Steve Fulop announced on Thursday that the financial investors service firm Moody’s has upgraded Jersey City’s municipal bond rating to an A1 with stable outlook citing the City’s “improved financial position” and “rising income levels.”
The report by Moody’s, issued Wednesday, further noted that Jersey City’s A1 stable rating is higher than that of the State of New Jersey, which has an A1 negative rating.
“This year we worked to expand the tax base, encourage the growth of our business community, and lower property taxes for our residents,” said Fulop in a written statement. “But our fiscal planning has also focused on the long-term, specifically how we can create structurally sound operations, reduce debt service, and generate revenue. We are making Jersey City more fiscally sound while at the same time hiring police officers and firefighters, renovating parks and increasing recreational programming, and improving city infrastructure.”