After seeing its bond rating slashed three-notches and facing the potential for another downgrade that would put it in junk territory, one of New York’s wealthiest counties is experiencing higher borrowing costs.

In a recent private placement of $10.5 million of bond anticipation notes, Rockland County saw its interest rates nearly double from last year. That came after Moody’s Investors Service last month cut the county to Baa3.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.