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Suffolk County avoids immediate Fitch cut


    (Reuters) - Fitch Ratings said on Wednesday that the credit rating for New York state's Suffolk County will not be immediately affected by its declaration of financial crisis on Tuesday after disclosure of a three-year $530 million deficit.

    In November, Fitch gave Suffolk County's general obligation bonds, which it rates at AA-minus, a negative outlook.

    "Fitch has already incorporated the county's weakened financial condition and heightened credit risk in its recent rating actions," the agency said in a statement.

    (Reporting By Joan Gralla; Editing by Chizu Nomiyama)