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Rensselaer County Water And Sewer Authority, NY Series 2008 Revenue Bond Rating Lowered To 'BBB' Sep 11
Standard & Poors, September 2011
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: Outlook: Stable
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Research type: News
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East Greenbush Twn,Rensselaer Cnty Wtr & Swr Auth