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Florida State Board of Education Refunding Bonds Series 2011A Rated 'AAA', Appropriation Debt Rating Affirmed At 'AA+' Feb 11 Product Image

Florida State Board of Education Refunding Bonds Series 2011A Rated 'AAA', Appropriation Debt Rating Affirmed At 'AA+' Feb 11

  • ID: 1753594
  • February 2011
  • Region: Florida
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Feb. 10, 2011--Standard & Poor's Ratings Services assigned its 'AAA' rating and negative outlook to Florida's State Board of Education, full faith and credit Public Education Capital Outlay refunding bonds, series 2011A, and affirmed its 'AAA' rating with a negative outlook on the state's general obligation (GO) debt outstanding. At the same time, Standard & Poor's affirmed its 'AA+' rating and negative outlook on the state's appropriation-backed debt. "The 'AAA' GO debt rating reflects our assessment of Florida'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 supporting the rating...

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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