Rockland County’s fiscal picture is looking brighter, according to Moody’s.
Moody’s Investors Service Monday assigned a Baa2 rating to $41 million in general obligation bonds and upgraded Rockland County’s bond rating from Baa3 to Baa2 for $368 million of general obligation debt outstanding. Moody’s says the upgrade reflects significant improvement in the county's management and budgeting practices; strengthened liquidity following the issuance of deficit reduction bonds; and strong oversight by the state. Republican County Executive Ed Day says the upgrade reflects his administration’s commitment to rebuild the county's fiscal foundation and streamline operations. The rating upgrades comes with a positive outlook, part of which stems from the pending sale of Summit Park Hospital and Nursing Care Center and the transfer of the county’s mental health facility to Nyack Hospital.
