Moodyâs Ogdensburg report: the good, the bad & the ugly Ogdensburg (Source: WWNY) By Keith Benman | April 9, 2021 at 4:47 PM EDT - Updated April 9 at 4:47 PM OGDENSBURG, N.Y. (WWNY) - Protests, job cuts, shouting matches at city hall. It hasnât been pretty for Ogdensburg. But Moodyâs credit rating agency has given a vote of confidence to the city when it comes to finances. âI think this certainly is affirmation that weâre doing the right thing for the city and weâre moving in the right direction,â said Stephen Jellie, Ogdensburg city manager. Previously the cityâs bonds were considered a substantial credit risk â âjunk bonds.â Now theyâre investment grade. The report cited this yearâs 10 percent tax cut as one reason.