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S&P raises Southampton, N.Y.'s GO rating to AA-plus
June 26, 2013 / 6:06 PM / 4 years ago

S&P raises Southampton, N.Y.'s GO rating to AA-plus

June 26 (Reuters) - Standard & Poor’s Ratings Services on Wednesday raised the town of Southampton, N.Y.’s general obligation rating debt to AA-plus from AA. The outlook is stable.

The upgrade reflects the town’s structural and technical reforms that have stabilized its finances, and increased revenues to its non-general fund operating funds, the rating agency said in a statement.

S&P also cited the affluent, stable local economy, and the low debt burden as reasons for the upgrade.

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