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Article: Fitch Rates Babylon, New York GO Bonds 'A+'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Fitch Ratings assigns an 'A+' rating to the Town of Babylon's (Suffolk County, New York) $27.8 million public improvement serial bonds, series 2009. The bonds are scheduled to sell competitively on Oct. 29 with proceeds being used to fund various general government capital projects. At this time, Fitch also affirms the 'A+' rating on approximately $121 million outstanding general obligation (GO) bonds. The Rating Outlook is Stable.
The 'A+' rating primarily reflects the town of Babylon's (the town) continued improvement in its financial position as evidenced by large operating fund balances governed by sound financial policies. The rating also considers the ...