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Summary: Oregon; General Obligation, State Lease Feb 99 Product Image

Summary: Oregon; General Obligation, State Lease Feb 99

  • Published: February 1999
  • Standard & Poors

FEATURED COMPANIES

Abstract
The rating on Oregon's certificates reflects: The general creditworthiness of the state of Oregon; The strong oversight of the lease program by the Oregon Department of Administrative Services (DAS); and The essentiality of the leased assets--a prison and a variety of other assets. The series 1999A refunding certificates are issued on a parity with the remaining series 1997A and 1997B certificates. The certificates are secured by state lease rental payments. Assets serving as security for the lease are the Umatilla Medium Security Men's Prison, a portion of a Department of Agriculture building, a DAS office building, and equipment. The prison is the largest of the assets (with 1,642 beds) and is considered highly essential given the fact that the state's...

Companies mentioned in this report are: Oregon
Action: New Rating

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Oregon

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