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The Wappinger Central School District (WCSD) in Hopewell Junction has received an upgraded credit rating from Moody's Investment Services. The district's rating was elevated to MIG 1, the highest short-term bond rating available for government entities. This improvement reflects the district's strong fiscal management and financial planning.
WCSD Superintendent Dr. Dwight Bonk attributed the upgrade to the district's fiscal responsibility and careful stewardship of taxpayer funds. He highlighted the collaborative efforts of the Board of Education and Assistant Superintendent of Finance and Business Development Kristen Dainty in achieving this milestone. Dr. Bonk stated, "This designation denotes superior credit quality and is a reflection of our focus on responsible fiscal management."
The district, which is the eighth-largest in New York State outside of New York City, has focused on both short- and long-term financial planning to maintain fiscal responsibility while providing essential programs and services to students. Dr. Bonk expressed gratitude to the community for their continued support and emphasized the district's commitment to maintaining fiscal responsibility.
The improved credit rating will benefit the district by potentially lowering borrowing costs for future capital improvements, ultimately benefiting all students in the district.