PRESS RELEASE
WILDWOOD CREST – The Borough of Wildwood Crest has recently been issued an excellent Aa2 rating by
Moody’s Investor Service for the second straight year in its most recent report of the borough’s finances. This
marks at least the 10th straight year Wildwood Crest has been awarded a rating of Aa3 or better.
“This excellent financial rating is a direct result of a continued commitment by the borough commissioners to
conservative budgeting and spending, as well as their efforts to maintain a strong fund balance,” said
Wildwood Crest Chief Financial Officer Francine Springer.
“Wildwood Crest’s continued excellent financial
rating allows the borough to attain low interest rates on its borrowing, resulting in a substantial savings to
Wildwood Crest taxpayers.”
In the report, Moody’s commented that “the issuer rating Aa2 reflects the borough’s very strong reserve
position” for the rating category. Moody’s added that “fiscal year to date operations have been trending well
and reserves should remain at these levels through the end of the year.”
The Moody’s report also stated that “the borough is actively working to maintain and improve its
infrastructure along with working with FEMA on resiliency projects.”
Moody’s also commented that the borough’s second consecutive Aa2 rating is a reflection of its very strong
value per capita, which is aided by a large seasonal home population.
“The Borough of Wildwood Crest is extremely pleased to receive yet another excellent rating from Moody’s,”
Wildwood Crest Mayor Don Cabrera said. “This is due to a continuous team effort by the borough’s finance
office, all other department heads and staff and the borough’s elected officials to strive for outstanding fiscal
responsibility, not only in the present but also into the future.”
Moody’s Investors Service is the bond credit rating of Moody’s Corporation. It provides worldwide financial
research on bonds issued by commercial and government entities. Moody’s is considered one of the “Big
Three” credit rating agencies along with Standard & Poor’s and Fitch Group.
For more information, call 609-522-5176.
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