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Continuing Progress Toward Full Fiscal Recovery Elevates Nassau County,NYs GO Rating to 'BBB+' Nov 03

  • ID: 1817399
  • November 2003
  • Standard & Poors
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NEW YORK (Standard & Poor's) Nov. 18, 2003--Standard & Poor's Ratings Services said today it raised its long-term rating on Nassau County, N.Y.'s approximately $2.1 billion of outstanding general obligation bonds to 'BBB+' from 'BBB' in recognition of the county's continuing progress toward full fiscal recovery. "During the course of 2003, Nassau County initiated, and in a number of instances has now made substantial progress with regard to, a wide range of corrective steps outlined in its four-year financial plan," said Standard & Poor's credit analyst Howard Mischel. "By tackling a multiplicity of longstanding and difficult credit issues, county government has taken definitive steps toward the achievement of fiscal stability and recurring structural budget balance." The outlook is stable based...

Companies mentioned in this report are:
- Nassau Cnty

Action: Upgraded

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.

Research type: News
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- Nassau Cnty

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