Summary: Oregon Department of Veterans' Affairs Oregon; General Obligation Oct 10

Standard & Poors, October 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to the State of Oregon Department of Veterans' Affairs' general obligation (GO) bonds series 91, 92A, and 92B. Oregon is the obligor for each series. In addition, we affirmed our 'AA' long-term rating on the state's outstanding GO debt. The outlook on all ratings is stable. The ratings reflect our view of the state's: Statutory and constitutional provisions for the funding of operating reserves during periods of revenue growth; Demonstrated willingness to revise budgets to maintain structural balance, including adjustments to both revenues and expenditures; Strong financial policies and practices, including institutionalized quarterly reviews of financial performance and economic forecasts that guide budget assumptions; and Low debt burden, with debt...

Companies mentioned in this report are:
- Oregon
- Oregon Dept of Veterans Affairs

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Oregon
- Oregon Dept of Veterans Affairs

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