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 Dept of Admin Svcs
Action: New Rating
Action: Outlook: Stable
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