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Bulletin: Alabama's 'AA' Rating Is Unaffected By Gulf Oil Spill May 10
Standard & Poors, May 2010
Abstract
DALLAS (Standard & Poor's) May 20, 2010--Standard & Poor's Ratings Services said today that its rating on Alabama's general obligation (GO) debt (AA/Stable) is unaffected by the drilling rig explosion and ongoing oil spill in the Gulf of Mexico. We believe that the state's longstanding ability to make necessary budgetary adjustments and good financial management provide stability to the rating. While the oil spill has the potential to have a significant and lasting impact on tourism and the environment of the state's coast, thus far, we believe that the effect on the overall economy hasn't been material. The oil spill was caused by an explosion on the Deepwater Horizon drilling rig on April 20, 2010; the rig was located 42...
Companies mentioned in this report are: Alabama,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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