Oregon's Series 2006A COPs Rated 'A+'; Outlook Stable May 06
- ID: 1806821
- May 2006
- Region: Oregon
- Standard & Poors
NEW YORK (Standard & Poor's) May 2, 2006--Standard & Poor's Ratings Services assigned its 'A+' rating to Oregon's $94.83 million certificates of participation (COPs) series 2006A, issued for Oregon Department of Administrative Services. The rating is based on the general creditworthiness of the state, coupled with state loan payments subject to appropriation. The outlook is stable, mirroring the outlook on the state's GO rating. Proceeds of the series 2006A COPs will be used for a number of projects, although mainly for financing a portion of the cost of constructing the 1,240-bed medium-security Madras Prison Facility. The total cost of the facility is estimated at $173 million, with construction completion anticipated in May 2007. The facility, financed in part by a...
Companies mentioned in this report are:
- Oregon Dept of Admin Svcs
Action: New Rating
Action: Outlook: Stable
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