With the first positive news concerning Nassau County's credit rating in almost a decade, Standard & Poor's today removed Nassau County from its Credit Watch program. Citing County Executive Thomas Suozzi's Four-Year Fiscal Recovery Plan as "ambitious and complex," S & P said, "The plan addresses the county's longstanding fiscal issues."

Nassau County Executive Tom Suozzi and Deputy County Executive Art Gianelli discuss the removal of Nassau County from Standard & Poor's Creditwatch, an important step towards Nassau's fiscal recovery.

In the news release sent out today, Standard & Poor's credit analyst Howard Mischel said the plan is "completing an important initial step on the road to fiscal recovery and warranting a stable outlook."

"Removing Nassau County from Credit Watch is a definite step in the right direction, as it sends a signal that Standard & Poor's sees the fiscal plan as a viable and workable way of getting through Nassau's financial crisis," said County Executive Suozzi.

The release said the plan "must attack a wide range of county issues simultaneously-many of which have remained neglected or unresolved for years. The county's new leadership team has laid out a road map and fresh approach for running its government, presenting a plan for its restructuring and a financial plan with a level of comprehensiveness that has been lacking n the past."

In an additional show of support the Long Island Association and the Association for a Better Long Island released statements of overall support for Nassau County Executive Suozzi's recovery plan. "No one realistically thought cleaning up the problems in Nassau County would be painless," said LIA President Matthew Crosson. "But it is time to get moving with that effort, and Mr. Suozzi's plan provides reasonable approach that merits general support. ABLI president Charles Serota echoed the same support for the Four Year Fiscal Recovery Plan saying, "The County Executive has drafted a budget plan that seeks to set the foundation for financial recovery."