Summary: Suffolk County, New York; General Obligation Sep 10

Standard & Poors, September 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'AA' long term rating with a stable outlook on the outstanding general obligation bonds of Suffolk County, N.Y. This rating reflects what we view as the county's: Fundamentally strong and stable economy due to its diverse and affluent nature, and easy access to the broad New York City metropolitan area; Substantial tax base, despite recent downward trends, that provides management with revenue-enhancing flexibility; Proactive budget management, which has led to overall budget stability despite the current economic climate; and Moderate overall debt burden. Credit limitations include the county's use of reserves to address budget deficits during the past three fiscal years. The county has drawn down the unreserved fund balance in each of...

Companies mentioned in this report are: Suffolk Cnty
Action: Affirmed
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Suffolk Cnty

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