TITLE

Colonie, N.Y., Debt Cut to A2 by Moody's

PUB. DATE
May 2006
SOURCE
Bond Buyer;5/3/2006, Vol. 356 Issue 32373, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the rating assigned by Moody's Investors Service to the multimillion-dollar in Series 2006 refunding serial bonds in Colonie, New York. It also downgraded the town's outstanding parity debt to A2 with a negative outlook from Aa3. The downgrade reflects an accumulated unaudited general fund deficit in 2004. The negative outlook reflects Moody's belief that the town will be challenged to restore structural balance to financial operations in fiscal 2006.
ACCESSION #
20803441

 

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