Virginia Resources Authority Virginia; Moral Obligation; State Revolving Funds/Pools Nov 09

  • ID: 1793409
  • November 2009
  • Region: Virginia
  • Standard & Poors
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  • Virginia
  • Virginia Resources Auth
  • MORE

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
- Virginia Resources Auth

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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- Virginia
- Virginia Resources Auth

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