Monroe County Industrial Development Corp., New York Nazareth College of Rochester; Private Coll/Univ - General Obligation Nov 12
- Language: English
- Published: November 2012
- Region: New York
Standard & Poor's Ratings Services has assigned its 'BBB+' long-term rating to Monroe County, N.Y.'s series 2012 general obligation (GO) public improvement bonds. At the same time, Standard & Poor's affirmed its 'BBB+' and 'BBB' ratings on the county's GO and appropriation-backed debt, respectively. The outlook remains positive. The rating continues to reflect the county's: Weak liquidity and reserves, despite operating surpluses in the past three years having improved finances; Annual operating budgets that devote a majority of resources to mandated costs; and Financial contingencies, including a liability to school districts, ongoing union contract negotiations, and operating subsidies to the county hospital. Offsetting factors include: Good financial management polices and practices that have produced balanced budgets, but with some reliance...
Companies mentioned in this report are:
- Monroe Cnty
- Monroe Newpower Corp
Action: New Rating
Action: Outlook: Positive
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