Fitch assigns A+ to Nassau County, N.Y., G.O. bonds, F1+ to notes

Fitch Ratings said it assigned an A+ rating to Nassau County, N.Y.'s approximately $140 million general obligation bonds, series 2008C, and $40 million G.O. refunding bonds, series 2008D.

The bonds are scheduled to price on June 18.

Bond proceeds will be used to finance capital improvement projects and refund certain outstanding bonds of the county.

In addition, Fitch affirmed the A+ rating on the county's approximately $537 million in outstanding G.O. bonds and Nassau Health Care Corp.'s approximately $296.2 million outstanding county-guaranteed bonds. The outlook is stable.

In addition, Fitch assigned an F1+ short-term rating to Nassau County, N.Y.'s approximately $110 million G.O. revenue anticipation notes (RANs), series 2008. The RANs are due April 15, 2009 and May 15, 2009. The RANs are expected to price competitively on June 11.

Proceeds will be used to provide funds to meet a cash flow deficit expected to occur during the period that the RANs are outstanding.

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