Summary: Oregon; General Obligation, State GO Nov 99

Standard & Poors, November 1999

Abstract
The rating on Oregon's bonds reflects: The state's growing and diversifying economic base; Generally strong overall revenue performance, which has largely offset the increased costs of funding education; and A manageable debt burden despite additional capital needs associated with growth. Increased funding pressures as a result of growth and tax limitation measures and a relatively low fund balance in fiscal 1998--following payments of refunds to taxpayers resulting from an Oregon Supreme Court decision on the taxation of federal pension income--somewhat offset these strengths. Oregon, with a population of 3.26 million, has benefited in recent years from strong revenue performance, resulting from its growing economy and expanding population and labor force. The state has diversified away from a heavy reliance on...

Companies mentioned in this report are:
- Oregon

Action: New Rating

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Oregon

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