Summary: Oregon Oregon Department of Administrative Services; Appropriations Sep 09

Standard & Poors, September 2009

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to the State of Oregon's 2009C certificates of participation (COP), issued on behalf of the Oregon Department of Administrative Services. In addition, we affirmed our 'AA-' long-term rating and underlying rating (SPUR) on the state's outstanding appropriation obligations. The outlook is stable. The credit strengths associated with this obligation include our view of the state's: Good financial position on a budgetary basis, reinforced by statutory and constitutional provisions for the funding of operating reserves during periods of revenue growth; Strong financial policies and practices, including institutionalized quarterly reviews of financial performance and economic forecasts that guide budget assumptions; and Low debt burden, with debt service targeted at no more than...

Companies mentioned in this report are:
- Oregon
- Oregon Dept of Admin Svcs

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Oregon
- Oregon Dept of Admin Svcs

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