Rensselaer County Water And Sewer Authority, NY Series 2008 Revenue Bond Rating Lowered To 'BBB' Sep 11
Standard & Poors, September 2011
Abstract
BOSTON (Standard & Poor's) Sept. 30, 2011--Standard & Poor's Ratings Services has lowered its long-term rating on Rensselaer County Water and Sewer Authority , N.Y.'s series 2008 water and series 2008 sewer service agreement revenue bonds, supported by the Town of East Greenbush, to 'BBB' from 'A-', due to a continuation of the town's weak financial position, as illustrated by low liquidity levels and a growing general fund balance deficit through fiscal 2009. The outlook is stable. Offsetting positive factors include: Recent indications of improvement of the town's finances, including a demonstrated willingness to make adjustments to begin to return to structurally balanced operations; and The town's stable local economy, with strong wealth and income indicators. "The stable outlook reflects...
Companies mentioned in this report are: East Greenbush Twn,Rensselaer Cnty Wtr & Swr Auth
Action: Downgraded
Action: Outlook: Stable
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
East Greenbush Twn,Rensselaer Cnty Wtr & Swr Auth
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