Oregon Dept. of Administrative Services Certificates of Participation Series 2003 Rated 'AA-' Mar 03

Standard & Poors, March 2003

Abstract
NEW YORK (Standard & Poor's) March 7, 2003--Standard & Poor's Ratings Services assigned its 'AA-' rating to Oregon Department of Administrative Services' $23.475 million certificates of participation (COPs), series 2003A, issued for Oregon. The COPs are scheduled to sell on March 10. In addition, Standard & Poor's affirmed its 'AA-' underlying rating (SPUR) on the department's outstanding COPs. The outlook is negative. "The 'AA-' rating on Oregon Department of Administration's series 2003A reflects the general creditworthiness of the state of Oregon as lessee and obligor, and the life term of the lease subject to annual appropriation," said Standard & Poor's credit analyst Parry Young. The certificates are secured by loan payments made by the state through the Department of Administrative...

Companies mentioned in this report are: Oregon Dept of Admin Svcs,Oregon
Action: New Rating

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Oregon Dept of Admin Svcs,Oregon

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