New York’s Suffolk County, home of eastern Long Island’s Hamptons beach towns, had $1.4 billion of general-obligation bonds cut to A from A+ by Fitch Ratings as the region recovers from Hurricane Sandy.
The owners of the New York Mets asked a judge to end a $386 million lawsuit by the Bernard Madoff brokerage trustee without a trial, saying at a hearing yesterday that he hasn’t proved his contention that they ignored the fraud because it benefited their business.
The owners of the New York Mets said a jury shouldn’t be called upon to decide claims of hundreds of millions of dollars against them filed by Irving Picard, the trustee liquidating Bernard Madoff’s firm.
Suffolk County, New York, the home of Long Island’s Hamptons beach communities, had its rating on $1.3 billion in general-obligation debt cut a step by Fitch Ratings, which cited reduced liquidity and financial flexibility.
Bank of New York Mellon Corp., targeted by New York for allegedly violating state law while representing mortgage-bond investors, was accused by Knights of Columbus of damaging its investment in mortgage securities.