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West Virginia; Tax Secured, General Obligation Jun 01 Product Image

West Virginia; Tax Secured, General Obligation Jun 01

  • Published: June 2001
  • Region: Virginia, West Virginia
  • Standard & Poors

Abstract
The rating on West Virginia's GO state road bonds series 2001 reflects: Sound financial management, including consistently balanced general fund budgets and sufficient financial reserves to meet likely contingencies; A moderate debt burden; and Steady progress reducing unfunded accrued trust fund liabilities. Offsetting rating factors include the state's below-average per capita wealth and income levels and a cyclical economic base lacking deep diversity. The state's economy has lagged national growth measures for the past few years, a trend that is projected to continue. For the fiscal year ended June 30, 2000, the state achieved a $72 million general fund operating surplus after transfers bringing unrestricted reserves, including the rainy day fund, to $336 million--equal to 7.16% of general fund disbursements....

Companies mentioned in this report are:
- West Virginia

Action: New Rating

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- West Virginia

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