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Summary: Monroe County, New York; Appropriations; General Obligation Jun 12 Product Image

Summary: Monroe County, New York; Appropriations; General Obligation Jun 12

  • Published: June 2012
  • Region: New York
  • Standard & Poors

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: Affirmed
Action: New Rating
Action: Outlook: Positive

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Monroe Cnty,Monroe Newpower Corp

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