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Summary: Onondaga Cnty, NY; Tax Secured, General Obligation Jul 05 Product Image

Summary: Onondaga Cnty, NY; Tax Secured, General Obligation Jul 05

  • ID: 1833610
  • July 2005
  • Region: New York
  • Standard & Poors

Abstract
The 'AA+' rating on Onondaga County, N.Y.'s GO bonds series 2005A, reflects the county's: Stable economic base that serves as the regional anchor and employment center for central New York; Experienced financial and operational management, especially given the ongoing budget pressures associated with rising Medicaid, employee health benefit, and pension contribution expenses that all New York counties have been facing; Dedicated commitment to rebuilding and maintaining general fund reserves at the formal 10% benchmark; and Moderate overall debt burden. The series 2005A bonds are secured by the county's faith and credit GO pledge. Proceeds will be used for various county projects, including bridge and highway, community college, and energy performance contract initiatives. Onondaga County (current population, 459,805) is in central...

Companies mentioned in this report are:
- Onondaga Cnty

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

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