Chautauqua County, NY 'A+' Bond Rating Outlook Revised To Negative On Diminished Financial Position Dec 11

Standard & Poors, December 2011

Abstract
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: Affirmed
Action: New Rating
Action: Outlook: Negative

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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.

Chautauqua Cnty

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