MOUNT VERNON, NY — January 29, 2019 — Following Moody’s Investor Service’s decision to withdraw the credit rating of the City of Mount Vernon, N.Y., Mayor Richard Thomas will announce measures aimed at restoring the city’s credit at 12Noon today in the Mayor’s Conference Room, City Hall, first floor, 1 Roosevelt Square, Mount Vernon.
Moody’s revoked the Mount Vernon’s credit rating for what it called “insufficient information” about the city’s financial condition. Failure by the Comptroller and City Council to fund a key audit has made it impossible for the city to close its books and for Moody’s to provide a true credit rating analysis for the city.
Mayor Thomas will be joined by Mount Vernon Inspector General Charles Knapp, Planning Commissioner Chantelle Okarter and other members of this administration.
SOURCE: Michael Mais, Mayor Thomas’ Press Office