Ed Day and Stephen DeGroat from Rockland County’s Executive Office announced the news that Fitch Ratings improved Rockland’s General Obligation Bond Rating to an “A”, up one step from an “A-“. This marks the county’s tenth consecutive upgrade since 2014 when the Rockland’s bond rating was at its lowest thanks to a $138 million deficit. Internal memos with on company Letterheads are effective ways of spreading good news and thanking employees for their hard work.
The new rating means that Rockland County is in a better position to borrow money that will be used to fund projects in cities such as New City with lower interest rates. When making the announcement about the new ratings, County Executive Ed Day stated:
“The upgrade shows the difficult changes we made in the past are being noticed and paying dividends for our residents. I vowed to restore Rockland to a position of fiscal responsibility and strength; through conservative budgeting and strict fiscal discipline we are making progress.”
The rating was based on the 2018 Comprehensive Annual Financial Report. This report shows that Rockland County had a $32 million surplus of money in its General Fund. Ed Day went on to thank the County’s employees for the part that they played in Rockland County’s fiscal improvements.
Get a Free Quote for Letterheads