Moody’s Downgrades Ramapo Credit Rating

Moody’s Investor Service’s recently cut Ramapo’s credit rating in response to the recent indictments of Town Supervisor Christopher St. Lawrence and former executive director of Ramapo Local Development Corporation, Aaron Troodler. Both men have pleaded not guilty to the charges. Moody’s stated that the downgrade “reflects the degree of increased risk stemming from the charges brought by the U.S. Justice Department and the SEC, which have resulted in near-term disruption in management and a likely delay in financial reporting and disclosure.” Moody’s lowered $146 million of Ramapo bonds two levels to A3, and said it has a “developing” outlook on the rating, suggesting that the rating could change if they receive new disclosures.

Snow Closings Updated Regularly

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