Westchester County, New York; General Obligation Jan 10
- ID: 1859662
- January 2010
- Region: New York
- Standard & Poors
The 'AAA' long-term rating on Westchester County, N.Y.'s series 2010A bonds reflects, in Standard & Poor's Ratings Services' opinion, the county's: Deep and diverse economy that has remained resilient as an integral part of the larger New York City metropolitan region; Strong income levels and property wealth; Maintenance of a sound financial position, despite recent budget pressures; and Low-to-moderate overall debt burden with rapid amortization. The county's faith and credit general obligation (GO) pledge secures the series 2010 bonds. The 2010 bonds will refund portions of the county's 1998, 2000, 2001, and 2002 bonds outstanding. Net present value savings total approximately $3.3 million and savings will be taken mainly in 2010 and 2011, providing budget relief to the county. Standard...
Companies mentioned in this report are:
- Westchester Cnty
Action: New Rating
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: Full Analysis