METUCHEN – The overall finances in Metuchen are “robust” and the debt burden of Metuchen is small, according to Moody’s Investors Service Annual Issuer Comment Report (AICR).
Borough Administrator Jay Muldoon read some highlights from the report at a Borough Council meeting on March 25.
The AICR, according to its website, provides a summery of key economic, demographic, financial and operation information within the context of Moody’s ratings methodologies.
Muldoon said Metuchen has a rating of Aa2, which means the borough is in a robust financial position, has a very strong wealth and income profile, has a solid tax base, and the rating reflects an extremely small debt burden and moderate pension liability.
“Metuchen’s cash balance as a percentage of Metuchen’s operation revenues is 50 percent and exceeds the U.S. median and Metuchen saw impressive increases between 2013 and 2017,” he said.
Muldoon said the borough’s overall economy and tax base is strong.