Summary: Monroe County, New York; Appropriations; General Obligation Jun 12
- ID: 2152983
- 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: New Rating
Action: Outlook: Positive
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >