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Florida's Series 2007F And 2007G Bonds Rated 'AAA' Jan 10 Product Image

Florida's Series 2007F And 2007G Bonds Rated 'AAA' Jan 10

  • ID: 1753076
  • January 2010
  • Region: Florida
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Jan. 20, 2010--Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating, and negative outlook, to Florida's series 2007F tax-exempt and 2007G federally-taxable Build America Bonds. "The 'AAA' rating reflects our view of the state's swift and continued response to declining revenues and increased budget pressures associated with a rapid and prolonged deterioration of the housing, financial, and credit markets," said Standard & Poor's credit analyst John Sugden-Castillo. Also reflected in the rating is our view of Florida's reserves, which have been greatly depleted, but continue to be at levels that we consider strong and offer some cushion against revenue shortfalls as the state temporarily shifts to American Recovery and Reinvestment Act of 2009...

Companies mentioned in this report are:
- Florida

Action: Affirmed
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: 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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