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Paterson’s credit outlook changed to ‘stable’ from ‘negative’

Paterson’s credit outlook changed to ‘stable’ from ‘negative’

The credit rating agency Moody’s has revised the city’s credit outlook from “negative” to “stable” on Tuesday citing signs of a stabilizing tax base and an aggressive effort to combat blight.

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Paterson narrowly adopts $283.36 million budget with 2.6-percent tax hike

The city council narrowly approved the fiscal 2018 municipal budget on Tuesday night following a personal appeal from mayor Jane Williams-Warren. A majority of council members initially voted to reject the $283.36 million budget with a 2.6-percent property tax increase.

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