Moody’s Investors Service has downgraded Orange County’s bond rating for the second time in six months.
Moody’s Investors Service Tuesday downgraded Orange County’s bond rating from Aa2 to Aa3 and assigned the county a negative financial outlook. This is the second time Moody’s has downgraded the county’s bond rating this year. In March, Moody’s lowered the county’s rating two notches. Republican Orange County Executive Steve Neuhaus, who took office in January, had expected the downgrade this week after a recent meeting with Moody’s officials.
Rockland County is still feeling the sting after Moody's Investor Service dropped the county's investment status rating three notches to just above junk level. Hudson Valley Bureau Chief Dave Lucas has an update: