- Published: May 2012
- Region: New York, United States
Summary: Oyster Bay; General Obligation
- Published: May 2008
- Standard & Poors
The upgrade to 'AAA' from 'AA' on Oyster Bay, N.Y.'s public improvement (serial) bonds reflects the town's strong financial position and good management. In addition, Standard & Poor's Ratings Services assigned its 'AAA' rating to the series 2008 bonds. The ratings on Oyster Bay reflect its: Strong local economy with easy access to New York City, Strong wealth and income levels, Rapid tax base appreciation, Very strong financial position, and Moderate-to-high overall debt burden. The series 2008 bonds are secured by the town's full faith and credit GO pledge. The proceeds, along with $65,000 in budgeted appropriations, will be used to retire $16.265 million in BANs outstanding, while providing $10.9 million in new funds for various capital projects. In addition,...
Companies mentioned in this report are: Oyster Bay Twn
Action: New Rating
Action: Outlook: Stable
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Oyster Bay Twn