National rating agency downgrades Nassau's credit
Photo credit: Howard Schnapp | Nassau County Executive Edward Mangano works on the new budget in his office in Mineola. (Sept. 15, 2010)
Nassau's $2.6B budget hearing filled to capacity
Edward Mangano
For the first time in a decade, Nassau County's credit has been downgraded by a national rating agency.
Moody's Investors Service dropped Nassau's credit rating Friday from Aa3 to A1 and also put the county on a negative outlook, signaling possible future downgrades. At the same time, however, two other major rating agencies held Nassau's credit and outlook steady.
A drop in the credit...
