NEW CITY – Moody’s
Investors Service has upgraded Rockland County’s general obligation
bond rating from Baa2 to Baa1, with a positive outlook, citing “significant
improvement in the county’s finances, vastly improved budgeting
practices and a sizeable tax base with above average wealth indicators.”
County Executive Edwin Day said their “measures of fiscal restraint,
improved management and prospective budgetary planning have paid off.”
Day said he will continue to “seek positive changes within the county’s
financial structure, such as the ongoing streamlining of services where
possible.”
The Moody’s assessment of a positive outlook “reflects our
expectation that the county will continue to maintain strong budgeting
practices, resulting in improved financial operations in 2015 and 2016.”
The Moody’s report also said “management transferred the county’s
mental health facility to Nyack Hospital in 2014. The county plans to
close the nursing home by the end of 2015. These changes are likely to
result in significant expenditure savings over time.”
