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Moody's raises Herkimer County bond rating

Story Created: Feb 6, 2013 at 5:44 PM EDT

Story Updated: Feb 6, 2013 at 11:31 PM EDT

(WKTV) - Herkimer County's bond rating has been increased from A1 to Aa3, according to County Legislature Chairman Vincent Bono.

Bono said, "this affirmation is a testament to the hard work done by the Legislature and in particular the Ways and Means Committee, administrative team, as well as our department heads, staff and employees, and has paid dividends to our taxpayers."

A lower bond rating means the county will be trusted even more when borrowing money in the future which can lead to lower interest rates for paying back big project debt, and therefor a benefit to taxpayers.

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