NEW YORK: Westchester County plans to issue roughly US$189mil in general obligation bonds, with Fitch Ratings giving the debt a top-tier AAA rating.
The affluent enclave, home to New York City suburbs like Scarsdale and Rye, will use the proceeds from the sale expected in February for various capital improvements, according to Fitch.
In December, the county’s legislators passed a US$2.5bil budget for the 2025, earmarking US$373mil to improve housing, and roads and bridges.
Fitch analysts, led by Margot Johnston, said in a December report that recent gains in biotech, health care and retail are boosting the county’s economic profile.
Morgan Stanley is renovating its corporate campus in Harrison, which is expected to create about 2,700 permanent jobs, according to Fitch.
Also in Harrison, NRP Group is building a 200-unit luxury apartment complex. — Bloomberg
