Keyword: 'Moody's' | Herald Community Newspapers

Keyword: Moody's

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Moody’s Investors Service revised its credit rating outlook last week from negative to stable.

Saying that Long Beach has avoided the fate of Detroit, the Long Beach City Council voted unanimously on Tuesday to lift its declaration of a fiscal crisis, after Moody’s Investors Service revised … more

By Anthony Rifilato | 9/4/13

Projects that will be funded by the $38 million include some that have been completed, like post-storm debris removal.

Awaiting FEMA funds, L.B. to borrow $38M

At Tuesday’s City Council meeting, members voted unanimously to allow the city to borrow $38 million for post-Hurricane Sandy recovery expenses while it waits for Federal Emergency Management … more

By Alexandra Spychalsky | 8/21/13

City Manager Jack Schnirman, far left, during a recent meeting with FEMA officials. Schnirman said that the city is looking for a full reimbursement for costs associated with Sandy.

Moody’s: Sandy could add to city’s financial strain

It had only been several months since the city took steps to balance its budget and close a $10 million deficit before Hurricane Sandy hit on Oct. 29, causing damage that is expected to cost the … more

By Anthony Rifilato | 11/21/12

Moody’s Investors Service is calling the city’s effort to reduce its deficit a “credit positive."

Moody’s: surcharge is a ‘credit positive’ for Long Beach

Moody’s Investors Service, the credit-rating agency that downgraded Long Beach’s rating five levels last year to a step above junk bond status, is calling the city’s effort to reduce its … more

By Anthony Rifilato | 10/3/12

The City Council voted 4-1 on Tuesday to issue $5 million in tax anticipation notes to make July payroll.

City borrows $5 million to make payroll

As the city contends with a projected $10.25 million deficit, the City Council voted 4-1 on Tuesday to borrow $5 million in tax-anticipation notes in order to make payroll at the beginning of … more

By Anthony Rifilato | 6/20/12

Moody's Investors Service said Long Beach was no longer under review for a further credit-rating downgrade.

Long Beach avoids a junk-bond credit rating

The City of Long Beach dodged a junk-bond credit rating on Tuesday, after Moody’s Investors Service announced that the city was no longer in jeopardy of a further downgrade. In December, … more

By Anthony Rifilato | 6/15/12

Cash-strapped Long Beach ‘hopeful’ it can bond $15 million

Legislation that would allow Long Beach to borrow millions in serial bonds in order to reduce a proposed 16 percent tax increase and pay off a staggering $10.25 million deficit is expected to pass … more

Anthony Rifilato | 6/6/12

CSEA President John Mooney, pictured during the May 15 City Council meeting, criticized the city at Tuesday's meeting, where he brought up workers who were laid off earlier this week.

Talks between CSEA and city fail

The City Council voted 3-2 at Tuesday’s budget hearing to adopt the $87.9 million budget for 2012-13, but not before Civil Service Employees Association workers who were laid off earlier this … more

By Anthony Rifilato | 5/23/12

Taxes jump in proposed Long Beach city budget

The city released a summary of its proposed 2012-13 budget on Tuesday, an $87.9 million spending plan that includes “significant” spending cuts and no layoffs, but comes with a 4.1 percent … more

Anthony Rifilato | 4/11/12

Former City Manager Charles Theofan was appointed Deputy County Executive last week.

Mangano taps Theofan for county post

Former Long Beach City Manager Charles Theofan — who left office in December shortly after Moody’s Investors Service downgraded the city’s credit rating five levels to a step above junk … more

Anthony Rifilato | 4/3/12

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