Virginia Resources Authority Virginia; Moral Obligation; State Revolving Funds/Pools Nov 09
- ID: 1793409
- November 2009
- Region: Virginia
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'AAA' rating, and stable outlook, to Virginia Resources Authority's (VRA) series 2009B Infrastructure Pool Revenue bonds and Infrastructure Pool Revenue Build America Bonds (BABs), based on projected excess cash flows and reserves that continue to meet Standard & Poor's requirements for 'AAA' rated municipal pools. At the same time, Standard & Poor's assigned its 'AA' rating, and stable outlook, to the authority's series 2009B State Moral Obligation Revenue bonds and State Moral Obligation Revenue BABs, based on the commonwealth of Virginia's moral obligation pledge. In addition, Standard & Poor's affirmed the 'AAA' and 'AA' long-term ratings and 'AA' underlying ratings (SPURs) on the authority's previously issued debt. The 'AAA' rating also reflects...
Companies mentioned in this report are:
- Virginia Resources Auth
Action: New Rating
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Research Type: Full Analysis