Oregon's State Board of Higher Education GO Bonds Rated 'AA'; Outlook Negative May 03
Standard & Poors, May 2003
Abstract
NEW YORK (Standard & Poor's) May 19, 2003Standard & Poor's Ratings Services assigned its 'AA' rating to Oregon's $35 million state board of higher education general obligation bonds 2003 series A, reflecting the full faith and credit pledge of the state, coupled with Oregon's diversified economic base and low debt burden. The current outlook is negative based on uncertainties related to the implementation of budget corrections within a framework of reduced flexibility for budget balance. Standard & Poor's also affirmed its 'AA' rating on Oregon's outstanding general obligation debt. During the current 2001-2003 biennium, the state has experienced weakened economic conditions, translating into significant revenue shortfalls. For the 2001-2003 biennium, total general fund revenues though March 2003 were estimated to...
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
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Oregon
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