NEW CITY – Standard and Poor’s has increased Rockland County’s long-term bond rating while Moody’s Investor Service has increased the rating to the county’s various purposes bonds and refunding bonds and reaffirmed its long-term bond rating.
S&P raised the county’s long-term rating from A- to A+ and assigned the county’s positive outlook an A+. Moody’s assigned an A2 rating and noted a stable outlook maintaining the A2 rating.
“These upgrades and affirmations show that Rockland is on the right track financially,” said County Executive Ed Day. “I vowed I would restore the county to a position of fiscal responsibility and strength; through conservative budgeting and strict fiscal discipline we are making progress.”
These are the eighth and ninth consecutive bond upgrades since 2014 when the county’s bonds were rated just above junk and the county had a $138 million deficit.
The better ratings men when the county borrows money to fund capital projects they can do it at a lower cost, saving taxpayer dollars.
