East Ramapo School District Investment Status Lowered

The East Ramapo School District has been downgraded from a Baa1 to a Baa2 rating, which is two steps above junk status, by the Moody’s Investors Service on Monday. Information from the service compiled by the Journal News stated that the district is now at a mid-range average creditworthiness and places the blame on the budget deficit and the reliance on taxes. Recently a fiscal monitor, Hank Greenburg, assigned by New York State Governor Andrew Cuomo submitted his report on the district as well, stating that continued oversight is necessary. The financial service stated that Greenburg’s report plays a part in their decision to downgrade, as well as the district’s increasing enrollment and spending costs on special education and transportation. Moody’s stated that the reasons provided in the report could lead to another downgrade in the future.

Snow Closings Updated Regularly

Please click on the image below to view all snow closings for Rockland County.