Fitch Rates Nassau Co Interim Fin Auth, NY's Sales Tax Secured Bonds 'AAA'; Outlook Stable | Reuters

Fitch Rates Nassau Co Interim Fin Auth, NY's Sales Tax Secured Bonds 'AAA'; Outlook Stable

Fitch Ratings assigns an 'AAA' rating to the Nassau County Interim Finance Authority, NY's (NIFA) $118 million sales tax secured refunding bonds, series 2015A.

The bonds are expected to sell via negotiation the week of Oct. 5. Proceeds of the bonds will be used to current refund portions of outstanding series 2005A and series 2005D and advance refund series 2009A for debt service savings.

The Rating Outlook is Stable.

SECURITY

Pursuant to the NIFA Act (the Act), the bonds are supported by a first perfected