Summary: Ohio; Tax Secured, General Obligation Aug 02
- ID: 1815288
- August 2002
- Region: Ohio
- Standard & Poors
The 'AA+' rating on Ohio's GO bonds reflects the state's: Ability to engage necessary adjustments to forecasted revenues and expenditures as a response to a decelerating economy, in order to maintain balanced operations and a positive general fund balance; Proactive planning for fiscal uncertainties through the previous implementation and funding of a budget stabilization fund (BSF) and other reserve funds; Previous accumulation of substantial cash reserves in the BSF, which the state now plans to use to make up for fiscal 2002 and 2003 revenue shortfalls; and Strong, continually diversifying, economic base that is resilient to current manufacturing job losses in the steel and automobile industries. With the recent end of the 2002 fiscal year the state still has in...
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Action: New Rating
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