Nassau County, N.Y., Gets Upgrade, Plans Return to Market

McDonald, Michael
April 2003
Bond Buyer;4/4/2003, Vol. 344 Issue 31608, p4
Trade Publication
With Nassau County, New York, beginning to plot a return to the bond market, Fitch Ratings Inc. upgraded its credit to BBB-plus from BBB. The upgrade keeps Fitch's rating one step higher than those of Moody's Investors Service Inc., which upgraded the credit to Baa2 from Baa3 on February 25, and Standard & Poor's, which upgraded it to BBB from BBB-minus on March 14, 2003. Reforms undertaken by county executive Thomas Suozzi, who took office at the beginning of 2002, were generally credited for the improvement. According to Art Gianelli, deputy county executive for budget and finance, Nassau plans to begin issuing an annual information statement this summer modeled on a similar document produced by Montgomery County, Maryland.


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