ITHACA, N.Y. (WHCU) — Ithaca’s credit rating has been yanked from Moody’s, a financial analytical firm.

Mayor Robert Cantelmo tells WHCU the decision in March was triggered by a reporting lag.

In addition, Cantelmo says it doesn’t reflect Ithaca’s financial condition.

Cantelmo adds they’re working to catch up, having last submitted a financial report and audit for the 2020 fiscal year. The 2021 audit is in progress.

FULL INTERVIEW: Ithaca Mayor Robert Cantelmo