Florida; General Obligation, State GO Aug 99

Standard & Poors, August 1999

Abstract
The rating on Florida's bonds reflects: A service-based economy that continues to diversify, A strong competitive position in the Southeast region with favorable future economic growth prospects, Average income levels, A sound financial position with strong budgetary controls, Fully funded budget stabilization reserves equal to 5% of revenues, and A manageable debt burden. This bond issue is ultimately secured by the state's full faith and credit pledge. The bonds are expected to price the week of Aug. 16, 1999, but will not be issued and delivered until March 15, 2000. The bonds will be used to refund, on a current basis, outstanding series 1989A bonds. Debt service is payable, in the first instance, from a second-lien pledge on gross receipts...

Companies mentioned in this report are:
- Florida

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Florida

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