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Summary: Saratoga Town, New York; General Obligation Dec 11 Product Image

Summary: Saratoga Town, New York; General Obligation Dec 11

  • Published: December 2011
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' rating, with a stable outlook, on Saratoga Town, N.Y.'s general obligation (GO) bonds. The rating reflects our opinion of the town's: Access to the diverse Albany employment base; Good income, coupled with, what we consider, very strong wealth per capita; Very strong finances as a percent of a limited budget; and Low overall debt with no additional debt issuance. The town's full-faith-and-credit pledge secures the bonds. In June 2011, New York State enacted legislation limiting property tax levy growth for all local governments and school districts, except New York City, to the lesser of 2% or the rate of inflation, subject to certain exceptions and overrides. Pursuant to the legislation, as enacted,...

Companies mentioned in this report are: Saratoga Twn
Action: Affirmed
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 READ MORE >

Saratoga Twn

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