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Brookhaven Town, New York; General Obligation Sep 11
Standard & Poors, Sep 2011
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating and stable outlook to Brookhaven Town, N.Y.'s series 2011 general obligation (GO) refunding bonds and affirmed its 'AA+' long-term rating and underlying rating (SPUR), with a stable outlook, on the town's existing GO debt. The rating reflects our opinion of the town's: Strong and expanding local economy that further benefits from easy access to the greater Long Island and New York City employment bases; Very strong wealth and income indicators, coupled with, what we consider, below-average unemployment; Sizable property tax base that has begun to experience, what we regard as, modest declines due to the economic downturn; Still-sound finances despite declining reserves stemming from near-term pressures on economically sensitive revenue,...
Companies mentioned in this report are: Brookhaven Twn,New York Mun Bnd Bank Agy,Saratoga 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
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