YONKERS, NY — July 5, 2019 — Narrow reserves drove the City of Yonkers’ bond rating to be downgraded despite recent momentum attracting new residents through transit-oriented development.
Moody’s Investors Service revised its credit outlook for Yonkers’ A2-rated debt from STABLE to NEGATIVE on Tuesday, July 3, 2019, citing a weak fund balance and liquidity levels.
Yonkers is also facing financial capacity as it struggles to fund its school district as state aid declines.
Basically, New York State Senate Majority Leader Sen. Andrea Stewart-Cousins, Sen. Shelley Mayer, Assemblyman Nader Sayegh, and Assemblyman J. Gary Pretlow have failed to deliver enough state aid to cover the cost of educating Yonkers Public Schools’ 27,000 plus children.
LOL… But they did manage to make sure that cats are not declawed in New York
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V A L I D A T I O N of writing by Mr. Harrod who was first to make note of this issue and thereby his perspective accepted because it is factual and is based on facts that the Yonkers Tribune validated as per the following link: