Summary: Nassau County, New York; General Obligation; General Obligation Equivalent Security; Joint Criteria Nov 10

Standard & Poors, November 2010

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating and stable outlook to Nassau County, N.Y.'s series 2010 E and F general obligation (GO) bonds. Standard & Poor's also affirmed the 'A+' long-term rating and underlying ratings (SPURs) on the county's previously issued GO debt. The outlook is stable. The 'A+' rating on Nassau County reflects the county's: Deep, diverse, and affluent economy that is adjacent to New York City and has shown resilience over time; Improved financial management policies and practices over the past several years, which have strengthened the county's overall financial position; and Pro-active budget management, which has taken swift action to restore balance as shortfalls emerged in the past two years. Compared with counties of...

Companies mentioned in this report are:
- Nassau Cnty

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

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.

- Nassau Cnty

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