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Summary: Virginia And Related Entities; Appropriations; General Obligation Apr 11 Product Image

Summary: Virginia And Related Entities; Appropriations; General Obligation Apr 11

  • ID: 1711993
  • April 2011
  • Region: Virginia
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA' rating on Virginia's general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'AA+' rating on the commonwealth's related authorities' appropriation debt outstanding. The outlook is stable. The ratings reflect what we view as the commonwealth's: Strong and broad-based economy that, in the past 15 years, has grown at a faster pace than the national average; Strong financial policies and practices; Long history of proactive and conservative financial management; and Manageable debt burden with low debt service carrying charges. Virginia's overall economic performance is slowly improving as it emerges from the recession. While the recession affected the commonwealth, we believe its economic performance held up better than many other...

Companies mentioned in this report are:
- Virginia

Action: Affirmed
Action: Outlook: Stable

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