Moody’s Threatens Downgrade for Ramapo

The Moody’s Investor Service has put Ramapo and Montebello has requested that they must submit more financial details or risk a possible credit rating downgrade. Moody’s stated that the town of Ramapo must submit more financial information within the next 30 days, or a ratings downgrade would imminent. The notice from Moody’s comes at a time when Ramapo town Supervisor Christopher St. Lawrence, and former executive director of the Ramapo Local Development Corp, Aaron Troodler, must prepare for the upcoming federal corruption trial in which the two are charged with covering up town deficits. (Source: LoHud)