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Summary: Albany County, New York; General Obligation; Note Nov 10 Product Image

Summary: Albany County, New York; General Obligation; Note Nov 10

  • Published: November 2010
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Albany County, N.Y.'s series 2010 general obligation (GO) bonds, and affirmed the 'AA' rating on the county's outstanding GO debt. The outlook is stable. Standard & Poor's also assigned its 'SP-1+ 'short-term rating to the county's 2010 bond anticipation notes (BANS). The 'AA' rating reflects the county's: Strong economy, anchored by the state government; Consistently strong economic indicators, including a below-average unemployment rate, strong per capita market value, and good wealth levels; Sound financial position, with good levels of general fund reserves; and Moderate debt burden with low debt service charges. Although the county's financial position remains strong, budgetary imbalances in the last three years have caused a decline...

Companies mentioned in this report are:
- Albany Cnty

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

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- Albany Cnty

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