Skip to main content
Enter search terms below…

Member News

Troy Bond Rating Revised, Outlook Changed to Stable by Moody’s Investors Service



Mayor Patrick Madden announced the City of Troy’s bond credit rating has been affirmed as ‘A2’ with a revised outlook from negative to stable by Moody’s Investors Service. The City of Troy’s two previous bond ratings had a negative outlook. The recently released report notes “the stable rating outlook reflects city management’s recent steps to build structurally balanced budgets as well as recent stabilization in the tax base.”

Mayor Madden issued the following statement regarding the revised issuer rating: “The removal of the negative outlook from the city’s bond rating by Moody’s affirms my administration’s ongoing efforts to restore Troy’s financial standing, critically important to continuing the economic growth, investment and revitalization occurring across our city. The goal of removing the negative outlook was a top priority, and today’s announcement represents another positive step in the right direction toward getting Troy’s fiscal house in order and demonstrates the continued progression of improvement to the condition of our city’s finances. We will continue to make the difficult decisions to strengthen the city’s financial foundation and set us on a path toward future prosperity for all Trojans.”

According to Moody’s, “the fiscal 2017 budget demonstrates a willingness to balance operations without recourse to the city’s already narrow reserves and strong fiscal management that relies on recurring revenues and trend-based expenditure estimates.” The stable outlook of the city’s bond rating is reflective of the administration’s efforts to grow city reserves, factbased budgeting, and effective management of city debt. Moody’s cautions that several factors could lead to a downgrade, including further declines in available Operating Fund balance, and a return to structurally imbalanced budgets.

The School of Architecture has been ranked the 13th best undergraduate program in the nation by the architectural research organization DesignIntelligence. This is the highest ranking in the history of the School of Architecture. The DesignIntelligence Quarterly’s annual “America’s Best Architecture & Design Schools” edition is the most sought…
The Sage Colleges inaugurated Dr. Christopher Ames as its 10th President. The Inauguration Ceremony was attended by more than 300 students, faculty, staff, and members of the board of trustees, as well as community leaders and political officials. The event, held in the Schacht Fine Arts Center theater on the Russell Sage College campus in Troy,…
The Sage Colleges today announced that it has received a $1.2 million gift from Chet and Karen Opalka in support of the Opalka Gallery on the Sage College of Albany campus. The Opalkas contributed $2 million to construct the gallery prior to its grand opening in 2002, and worked closely with founding director Jim Richard Wilson to establish the…
Oct
20
Join us in honoring Bob Horan's legacy of collaborations between business and education to close the skills gap. Online registration has closed; walk-ins…
7:30 a.m. Check-in & Breakfast; 8-9 a.m. Program
Oct
24
Review the principles of effective presentation design and delivery. Learn how to organize content, formatting, colors and many other tips. Topics Include…
8 - 8:30 a.m. Check-in & Refreshments; 8:30 - 10:30 a.m. Training Session
Oct
26
Designed for Chamber members looking to maximize their investment by getting engaged and connected with the business community. Whether you’re a new or…
7:30 a.m. Check-in & Breakfast; 8 - 9 a.m. Benefits Overview & Networking