Mayor Ravi S. Bhalla today announced that S&P Global Rating has once again given Hoboken a strong credit rating, affirming the City’s financial stability. S&P assigned the highest rating, an ‘SP-1+’ rating, to Hoboken’s bond anticipation note and reaffirmed its ‘AA+’ rating on the City’s long-term debt.
According to the report, the rating reflects Hoboken’s strong tax base, stable finances, and long-term infrastructure investments. S&P highlighted the City’s responsible budgeting and ongoing economic growth supported by its prime location near New York City as well as Hoboken’s commitment to flood protection and climate resiliency which was also recognized as a proactive step in managing environmental risks.
“Hoboken’s strong rating from S&P Global reflects our commitment to fiscal responsibility and long-term sustainability,” said Mayor Bhalla. “As we continue investing in critical infrastructure and resiliency projects, we remain focused on prudent fiscal management to ensure a stable financial future for our community.”
