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Oregon Dept. of Administrative Services Certificates of Participation Series 2003 Rated 'AA-' Mar 03
Standard & Poors, March 2003
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
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: News
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Oregon Dept of Admin Svcs,Oregon