Oregon; Tax Secured, General Obligation Mar 04
- ID: 1754808
- March 2004
- Region: Oregon
- Standard & Poors
The 'AA-' rating on Oregon's GO alternate energy project bonds series 2004 A, B, and C reflects the state's: Financial position that, while weakened by a prolonged economic slowdown, was stabilized by large budget cuts and revenue enhancements in fiscal 2003; Diversified economic base; and Low debt burden as a percent of market value. The state pledges its full faith and credit to secure the bonds. Proceeds will be used to redeem certain outstanding series 1994 bonds and finance energy improvement projects. Oregon's economy has diversified away from its traditional industries of lumber, wood products, and agriculture into high-technology manufacturing. Computer and electronic manufacturing employment accounts for 2.8% of Oregon's total employment compared with 1.2% for the nation, while wood...
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Action: New Rating
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