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Louisiana's GO Debt Rating Raised To 'AA' On Demonstrated Willingness To Correct Budgetary Imbalances May 11
Standard & Poors, May 2011
DALLAS (Standard & Poor's) May 4, 2011-- Standard & Poor's Ratings Services raised its long-term and underlying rating (SPUR) to 'AA' from 'AA-' on the State of Louisiana's general obligation (GO) debt. The outlook on all bonds is stable. "The raised rating reflects our view that the state has demonstrated a willingness to make adjustments to its revenues and expenditures to correct any budgetary structural imbalances during the current low stage of its revenue cycle," said Standard & Poor's credit analyst Sarah Smaardyk. "The rating is further strengthened by the state's almost unlimited ability to raise taxes and other revenues as well as its economy, which has experienced lower-than-average unemployment compared to the nation." "We do not expect to change...
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Action: Outlook: Stable
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Research type: News
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