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Summary: Nassau County, New York; General Obligation; Joint Criteria Aug 09 Product Image

Summary: Nassau County, New York; General Obligation; Joint Criteria Aug 09

  • ID: 1817242
  • August 2009
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Nassau County, N.Y.'s series 2009F and 2009G general obligation (GO) bonds and affirmed its 'A+' long-term rating and underlying rating (SPUR) on the county's previously issued GO debt, reflecting the county's: Deep, diverse, and affluent local economy that is adjacent to New York City and has shown resilience over time; and Institutionalized financial reforms and comprehensive financial reporting and planning, as well as fund balance, debt management, and investment policies, all of which allows management to remain proactive in handling the county's financial challenges. Compared with counties nationwide of similar size and economic strength, the rating remains below average, in our opinion, due to the county's: Continued use...

Companies mentioned in this report are:
- Nassau Cnty

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

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