NEW YORK (Standard & Poor's) Feb. 4, 2011--Standard & Poor's Ratings Services said today it affirmed its 'A+' long-term rating on Nassau County, N.Y.'s outstanding general obligation (GO) debt. The outlook is stable. The affirmation follows Nassau County's Jan. 31, 2011, lawsuit in Nassau County Supreme Court against the Nassau County Interim Finance Authority (NIFA) seeking an immediate stay of the control period imposed on Jan. 26, 2011. At the time of Standard & Poor's last review of Nassau County on Nov. 5, 2010, we highlighted the county's increased budget pressure, its reliance on some nonrecurring resources to fund operations, and options being considered to restore balance. "Despite NIFA's imposition of a control period, we believe that the county's financial...
Companies mentioned in this report are:
- Nassau Cnty
Action: Outlook: Stable
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