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Florida's Full Faith & Credit State Brd of Ed Pub Ed Cap Outlay Rfdg Bnds Ser 2001D Rtd 'AA+' Aug 01
Standard & Poors, August 2001
NEW YORK (Standard & Poor's) Aug. 14, 2001Standard & Poor's today assigned its double-'A'-plus rating to Florida's $275.445 million full faith and credit state board of education public education capital outlay refunding bonds series 2001D due June 1, 2019. The outlook is stable. In addition, Standard & Poor's affirmed its double-'A'-plus rating on the state's outstanding full faith and credit debt. The bonds are ultimately secured by the state's full faith and credit pledge. Debt service is payable in the first instance from a second-lien pledge on gross receipts tax revenues collected from providers of electric, natural gas, and telecommunications industries operating in the state. The taxes are constitutionally dedicated to pay debt service. Gross receipts tax revenues of $723...
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