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Oregon; Tax Secured, General Obligation Aug 01
Standard & Poors, August 2001
The 'AA' rating on Oregon's GO bonds is based on the state's full faith and credit pledge and reflects: The ongoing diversification of the state's economic base, Strong overall revenue performance driven by personal income taxes, and A manageable debt burden despite additional capital needs associated with the state's economic growth. Offsetting Oregon's credit strengths are increased funding pressures resulting from existing and proposed growth and tax limitation measures. Measure 50 reduced property taxes by limiting current and future assessed values (AV) and clarified the effect of the tax rollback on schools by specifically requiring the state to replace, on an ongoing basis, the revenues lost by the public school system. Measure 7, which was passed by voters in November...
Companies mentioned in this report are: Oregon
Action: New Rating
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Research Type: Full Analysis