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...
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