Rockland County, NY Dodges Credit Downgrade
Rockland County, NY Dodges Credit Downgrade The Rocketeer, flickr
Rockland County rises above "junk status."
Rockland County has cleared a hurdle in its fiscal crisis - a reprieve from Moody's Investors Service.
Moody's said Wednesday it has ended a review that could have resulted in a downgrade to junk status.
Last month, Moody's had downgraded the county to one rank above junk status. That gave Rockland the lowest credit rating of all counties in New York.
The county stepped up efforts to show that it's getting its financial act together.
County Legislator Ilan Schoenberger has been working on solutions to Rockland's fiscal crisis. The Democrat from Wesley Hills tells the Journal News
that he hopes the decision represents a turning point.