Keyword: 'Moody's Investors Service' | Herald Community Newspapers

Keyword: Moody's Investors Service

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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

A special council meeting was held on Tuesday, and a resolution was passed to borrow $6 million in order to make payroll and maintain city services.

Long Beach City Council approves $6 million borrowing measure

The City Council unanimously approved a $6 million borrowing measure on Tuesday in order to pay its workers and help close a $10.2 million deficit as the city attempts to avoid a further … more

Anthony Rifilato | 3/28/12

Th City Council will hold a special meeting on Tuesday, where it will be asked to approve a $6 million borrowing measure.

Long Beach to float $6 million borrowing measure

The City Council will hold a special meeting on Tuesday, where it will be asked to approve a $6 million borrowing measure to help close the bulk of a $10.2 million deficit and avoid a further … more

By Anthony Rifilato | 3/24/12

City officials called on New York State Comptroller Tom DiNapoli's office to conduct an audit of the city.

State comptroller to audit Long Beach’s finances

New York State Comptroller Tom DiNapoli is launching an audit of Long Beach’s finances next month, as the city grapples with a $10.25 million deficit and a credit-rating downgrade by Moody’s … more

Anthony Rifilato | 3/22/12

The city is facing a $10.25 million deficit.

Long Beach facing $10 million deficit

A little more than a month after the city declared a fiscal crisis, Long Beach has hit a $10.2 million deficit, a gap that City Manager Jack Schnirman said needs to be closed before the end of the … more

Anthony Rifilato | 3/19/12

Overtime in the city has dropped 72 percent since City Manager Jack Schnirman implemented a new policy on Jan. 23.

Long Beach's new overtime policy produces results

A month after City Manager Jack Schnirman implemented strict controls to rein in skyrocketing overtime costs, city officials said that the new policy has led to a dramatic reduction in overtime … more

By Anthony Rifilato | 2/29/12

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