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Summary: Nassau County, New York; Note May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Nassau County, N.Y.'s series 2011 A and B revenue anticipation notes (RANs). The rating reflects: The county's general obligation (GO) pledge ('A+/Stable' GO rating) as security; Strong projected coverage at the time of the two notes' maturities; An adequate note structure that provides for lump-sum note repayments deposited to a separate bank account held by the county treasurer with no early segregation points; and Strong projected alternative liquidity in the county's sewer and storm water district funds and environmental protection bond funds at note maturities. The county's faith and credit GO pledge secures the 2011 RANs. Note proceeds will be used to provide liquidity for county operations during low...
Companies mentioned in this report are: Nassau Cnty
Action: New Rating
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