Standard & Poor's Ratings Services affirmed its 'AAA/A-1+' rating on Nassau County Interim Finance Authority (NIFA), N.Y.'s sales tax secured variable-rate bonds series 2008A.-The rating affirmation is based on the substitute standby bond purchase agreement provided by JPMorgan Chase Bank N.A. (AA-/A-1+). The long-term component of the rating is based on NIFA (AAA) and represents our opinion of the likelihood that debt service will be paid over the life of the issue. The short-term component of the rating represents our opinion of the likelihood of full and timely payment of tenders by the SBPA provided by JPMorgan Chase Bank N.A. The SBPA shall provide coverage for principal and 35 days of interest at the maximum rate of 15% for the...
Companies mentioned in this report are: Nassau Cnty Interim Fin Auth
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