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Summary: Suffolk Cnty, NY; General Obligation, Local GO Dec 98
Standard & Poors, December 1998
The rating on Suffolk County, N.Y.'s bonds reflects a diverse economic base, a tight financial position, and moderate debt levels. The Nassau-Suffolk metropolitan area economy is diverse, with a well educated work force, proximity to New York City and other urban markets, and an extensive transportation system. Offsetting these strengths are high real estate and energy costs. According to Standard & Poor's DRI, the area's employment base will expand 1.9% in 1998, the largest percentage gain in 11 years. Most of the gain occurred in the services and trade sectors. From 1998 through 2003, payroll employment will increase 0.5% annually, about one-half the national growth rate. Business and consumer services will be the fastest-growing sectors of the economy, while recent...
Companies mentioned in this report are: Suffolk Cnty
Action: New Rating
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