So, the Village of Piermont government failed to file required Fiscal Year 2023 information with the New York State Comptroller’s office, for almost nine months after the filing was due - finally filing it with the NYS Comptroller a few short weeks ago on June 11, 2024:
https://unhandpiermont.blogspot.com/2024/07/that-time-when-bruce-tucker-sandbagged.html
Well,
guess what else?
According
to the Moody’s Internet website and confirmations by Moody’s personnel yesterday and today, Moody’s
withdrew their bond rating for Village of Piermont on March 13, 2024.
Moreover,
Moody’s notes that normally, when a municipality’s bond rating is so withdrawn,
an accompanying written statement is posted which purports to explain the “Ratings
Withdrawn” action. Yet Moody’s also notes that in this case, no such accompanying
written statement appears to have been posted - which Moody’s finds strange.
I
don’t find it strange in this case.
Right
now I feel like I am in the fight scene in “Crouching Tiger, Hidden Dragon”
with the rickety old wooden structure collapsing all around me - and I am
watching it collapse.
Perhaps
Piermont residents would like to now write Mayor Bruce Tucker a letter
demanding a written explanation from the Village of Piermont government, as to
why the Moody’s “Ratings Withdrawn” action was taken.
[UPDATE 7-24-2024, per Moody's: "... the ratings were withdrawn for the
Village Of Piermont, New York because the rated debt matured... [the] last[-]rated CUSIP matured on 9/15/23". In other words, you probably don't have to write Tucker about this, since this is probably news to him. Eventually after reading this post, though, maybe the Village of Piermont will finally get around to posting a statement regarding the Moody's bond ratings withdrawal that should have been posted to the Moody's database and the Village of Piermont website over four months ago].
