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Moody's updates credit analysis following upgrade of general obligation in Woodbury

Moody's has provided an update to credit analysis following an upgrade of general obligation in Woodbury to a Aa1 rating.  The credit rating agency found that Woodbury benefits from a sound financial position, supported by conservative budgeting and formal policies, as well as stable property tax revenue and significant budgetary flexibility given low fixed costs. The town's tax base is stable, although below medians of similarly rated cities, and wealth and income indicators are strong. Woodbury was cited for having limited reliance on state revenues and very low fixed costs. Factors that could lead to a downgrade include a tax base deterioration, trend of structural imbalance leading to fund balance declines and significant increase in debt or pension burdens.