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Oregon; Tax Secured, General Obligation Mar 04 Product Image

Oregon; Tax Secured, General Obligation Mar 04

  • ID: 1754808
  • March 2004
  • Region: Oregon
  • Standard & Poors

Abstract
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...

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: Full Analysis

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