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Bulletin: Florida's GO Debt Rating Is Unaffected By Gulf Oil Spill May 10
Standard & Poors, May 2010
Abstract
NEW YORK (Standard & Poor's) May 25, 2010--Standard & Poor's Ratings Services said today its rating on Florida's general obligation (GO) debt (AAA/Negative) is not affected at this time by the April 20, 2010, drilling rig explosion and ongoing oil spill in the Gulf of Mexico. The Deepwater Horizon rig, which was leased to BP PLC (AA/Negative/A-1+), was located 42 miles southeast of Venice, La. and about 100 miles southwest of Florida. We understand that to date the state has received from BP $25 million to assist with recovery efforts, and an additional $25 million for tourism promotion. We also understand that receipt of this money, however, does not preclude the state from pursuing other forms of compensation for economic...
Companies mentioned in this report are: Florida,BP PLC
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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