Summary: Suffolk County, New York; General Obligation Oct 06
- ID: 1793503
- October 2006
- Region: New York
- Standard & Poors
The 'AA-' rating on Suffolk County, N.Y.'s series 2006B GO public improvement bonds reflects the county's: Expanding, diverse, and affluent local economy, with easy access to the broad New York City metropolitan area; Substantial and rapidly increasing tax base and property wealth; Proactive budget management, which should lead to sustained stable financial operations; Healthy reserve levels, particularly within the tax stabilization reserve fund; and Favorable overall debt profile. Credit limitations include the county's: Regular use of the unreserved general fund balance as a revenue source for recurring annual operating expenditures; Lack of traditional fund balance and liquidity policies; and Sizeable ongoing capital requirements and financing plans. The series 2006B bonds are secured by the county's faith and credit GO pledge....
Companies mentioned in this report are:
- Suffolk Cnty
Action: New Rating
Action: Outlook: Stable
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