Westchester County loses AAA rank after using reserves for pay

New York's Westchester County, home to the wealthy suburbs of Scarsdale and Bronxville, lost its AAA grade from S&P Global Ratings Inc. and Fitch Ratings after drawing down its cash reserves to cover retroactive raises given to government employees. The county, which borders New York City to the north, had its grade cut one level by both companies Tuesday to AA+.

National Cooperative Bank Originates $61.7 Million for New York-Area Cooperatives in July 2017

... first mortgage and a $500,000 line of credit for Rivermere Apartments, Inc., a 39-unit co-op at 99 Lake Avenue in Bronxville, NY; A $1.2 million first mortgage and a $250,000 line of credit for a 17-unit co-op at 107-109-111 North 9th Street in ...