- Language: English
- 128 Pages
- Published: January 2012
- Region: United States
Nassau County, NY 2011 Tax Anticipation Notes Rated 'SP-1+' Dec 11
- Published: December 2011
- Standard & Poors
NEW YORK (Standard & Poor's) Dec. 12, 2011--Standard & Poor's Ratings Services said it assigned its 'SP-1+' short-term rating to Nassau County, N.Y.'s series 2011 tax anticipation notes (TANs), series A and B. The rating reflects: The county's general obligation ('A+/Stable' GO debt rating) pledge as security; Strong projected coverage at the TANS' maturity dates; An adequate note structure that provides for lump-sum repayments deposited to a separate bank account held by an outside fiscal agent; and Strong projected alternative liquidity in the county's sewer and storm water district funds and environmental protection bond funds at note maturities. The county's faith and credit GO pledge secures the series 2011 TANs. Note proceeds will provide liquidity for county operations during low...
Companies mentioned in this report are: Nassau Cnty
Action: New Rating
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Research type: News
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