Oregon's Series 2002 GO Bonds Rated 'AA'; Outlook Negative Nov 02

Standard & Poors, November 2002

Abstract
NEW YORK (Standard & Poor's) Nov. 14, 2002Standard & Poor's Ratings Services assigned its 'AA' rating to Oregon's $98.835 million general obligation Oregon opportunity bonds (Department of Administrative Services) series 2002 based on the state's full faith and credit pledge and reflecting the diversification of the state's economic base, and a low debt burden. The bonds are scheduled to sell on Dec. 4. Standard & Poor's also affirmed its 'AA' rating on the state's outstanding general obligation debt. Offsetting Oregon's credit strengths are ongoing budgetary pressures resulting from weakened income tax collections due to a slowing economy. In 2001, employment in the state declined and a further decline is projected for 2002. "The negative outlook reflects uncertainties related to the...

Companies mentioned in this report are:
- Oregon

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.

Oregon

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