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Chautauqua County, NY 'A+' Bond Rating Outlook Revised To Negative On Diminished Financial Position Dec 11
Standard & Poors, December 2011
BOSTON (Standard & Poor's) Dec. 27, 2011--Standard & Poor's Ratings Services has revised its outlook to negative from stable and affirmed its 'A+' long-term rating and underlying rating (SPUR) on Chautauqua County, N.Y.'s general obligation (GO) debt. At the same time, Standard & Poor's assigned its 'A+' long-term rating, and negative outlook, to the county's series 2012 GO public improvement bonds. "The outlook revision reflects our view of the county's deteriorating fund balance as well as our expectation that the county's financial position will likely continue to experience pressure over at least the next two years, which could lead to a lower rating," said Standard & Poor's credit analyst Matthew Stephan. The ratings reflect Standard & Poor's assessment of the...
Companies mentioned in this report are: Chautauqua Cnty
Action: New Rating
Action: Outlook: Negative
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.