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Florida's Full Faith And Credit State Board Of Education PECO Refunding Bonds Rated 'AA+' Feb 05

  • ID: 1751625
  • February 2005
  • Region: Florida
  • Standard & Poors
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NEW YORK (Standard & Poor's) Feb. 4, 2005Standard & Poor's Ratings Services assigned its 'AA+' rating to Florida's $351.275 million full faith and credit state board of education public education capital outlay refunding bonds series 2005B, and affirmed its 'AA+' rating on the state's outstanding general obligation debt. The rating reflects the state's strong financial reserve levels despite steady expenditure pressures, strong revenue performance, economic growth that continues to outpace the national economy, solid economic growth prospects over the long term, average income levels, and moderate debt burden. The outlook is stable based on the state's strong track record of active budget management and consistent budgetary reserves. The state's full faith and credit pledge secures the series 2005B bonds. Gov....

Companies mentioned in this report are:
- Florida

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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