Friday, 07 February 2014 12:18

Moody’s Downgrades County Bond Rating

Written by staff Report
NEW YORK – Moody’s Investors Service announced on Monday, February 3 that it had downgraded Saratoga County’s bond rating. The county’s credit rating slipped one level from Aa1 to Aa2 – Moody’s third highest rating. Moody’s also assigned the county’s debt a negative outlook, meaning it could further lower its credit rating in 12 to 24 months. The change reflected Saratoga County’s diminishing surplus funds due to years of subsidizing operating deficits at its Maplewood Manor nursing home, Moody’s said. “The decrease in general fund reserves has been primarily driven by aggressively budgeted revenue assumptions and expenditure pressures associated with Maplewood,” the report said.
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Saratoga Springs Politics

Blotter

  • Saratoga County Sheriff’s Office On January 19, the Saratoga County Sheriff’s Office Narcotics Unit arrested Bryan S. Pallone, following an investigation into the sales of cocaine within Saratoga County. Pallone is currently incarcerated at the Schenectady County Jail, pending 29 open cases, 19 of them being felonies. This does not include additional multiple warrants that have yet to be executed throughout the Capital Region, involving mostly larceny related offenses, according to the sheriff’s office.  William C. Maguire, 27, of Voorheesville, was charged Jan. 23 with two felony counts of rape, and one felony count criminal sexual act in the first-degree. Maguire…

Property Transactions

  • BALLSTON Gail Lincoln sold property at 131 West High St to 886 3rd Avenue Troy NY for $190,000 Brookview Court Inc sold property at 74 Arcadia Way to Linda De Los Santos for $361,235 Brookview Court Inc sold property at 72 Arcadia Way to Courtney Howard for $334,532 CORINTH Gerald Hempstead sold property at 25 Hillside Ave to Tyrel Hempstead for $266,000 GALWAY Robert Groff sold property at 1063 and 0 West Galway to Katie Dobson for $252,000 Andrew Jarosh sold property at 1274 NYS Rt 29 to Kevin Hanna for $155,000 MALTA Daniel Jablanski sold property at 23 Vettura…