© 2022 WSHU
NPR News & Classical Music
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

With Influx Of Federal Dollars, Suffolk Gets Credit Upgrade

money_pixabay_170525.jpg
Courtesy of Pixabay
/

Suffolk County’s bond rating has been upgraded, thanks to more than $570 million in federal coronavirus assistance.

Two Wall Street bond rating agencies credit federal aid and budgetary planning to avoid economic disruptions from the pandemic.

S&P Global and Fitch Ratings gave Suffolk a BBB+ for $99 million in borrowing for capital improvement projects.

Fitch also upgraded Suffolk’s rating on $80 million in additional short-term borrowing.

The improved ratings could lower interest rates when the county pays back the bonds. County Executive Steve Bellone also plans to reduce borrowing for capital projects.

A native Long Islander, J.D. is WSHU's managing editor. He also hosts the climate podcast Higher Ground. J.D. reports for public radio stations across the Northeast, is a journalism educator and proud SPJ member.