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West Virginia's GO State Road Bonds Series 2001 Rated 'AA-'; Outlook Stable Jun 01 Product Image

West Virginia's GO State Road Bonds Series 2001 Rated 'AA-'; Outlook Stable Jun 01

  • ID: 1887919
  • June 2001
  • Region: Virginia, West Virginia
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's CreditWire) June 21, 2001Standard & Poor's today assigned its double-'A'-minus rating to West Virginia's $110 million GO state road bonds series 2001 due June 1, 2021. The bonds are scheduled to sell June 26, 2001. The outlook is stable. In addition, Standard & Poor's affirmed its double-'A'-minus rating and underlying rating (SPUR) on the state's outstanding GO debt. The rating 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....

Companies mentioned in this report are:
- West Virginia

Action: New Rating

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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