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Summary: Florida; General Obligation Sep 10
Standard & Poors, September 2010
Standard & Poor's Ratings Services has assigned its 'AAA' rating, with a negative outlook, to Florida Board of Education's capital outlay refunding bonds series 2010A. In addition, Standard & Poor's has affirmed its 'AAA' long-term rating on Florida's State Board of Education, full faith and credit bonds outstanding. 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; Reserves, which have been greatly depleted over the past few years, but have begun to stabilize and continue to be at levels that we consider strong and offer some cushion against revenue shortfalls as American Recovery and Reinvestment...
Companies mentioned in this report are:
- Florida Brd of Ed
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Florida Brd of Ed