Elmira Bond Rating: Stable
Standard and Poors did the review
In 2013 Moody's had given the city an A minus 2 rating, which means a negative outlook. The city can choose who does their Bond Rating each year, and chose to make the change to S&P for 2014. Bond raters evaluated the cities financial standing, management , and flexibility for different situations when coming up with the their decision. Elmira City manager Kimberly Maddaugh says she was glad the city had made changes in the last year to warrant the rating change. She pointed out a good bond rating is very important for a city like Elmira, because when the city needs to borrow money the bond rating can determine interest rates.