Moody's assigns A2, MIG1 to Nassau County issues

Moody's Investors Service said it assigned A2 ratings to Nassau County, N.Y.'s $140 million series C and $40 million series D general obligation bonds and a MIG1 rating to the county's $110 million series 2008 revenue anticipation notes. The outlook is stable.

Sale dates were June 18 for series C and D and June 11 for the revenue anticipation notes, which included $60 million series A, due April 15, 2009, and $50 million series B, due May 15, 2009.

The rating affects $710.4 million of outstanding debt, post refunding.

Proceeds of the series C bonds will finance capital projects and certain judgments and settlements. The series D bonds will refund $41 million of outstanding county debt.

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