- Language: English
- Published: August 2013
- Region: Virginia
West Virginia; General Obligation, State GO Dec 99
- ID: 1888027
- December 1999
- Region: Virginia, West Virginia
- Standard & Poors
West Virginia's 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 in 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 that has performed adequately through the current national economic expansion but, nonetheless, lacks deep diversity. For the fiscal year-ended June 30, 1998, the state achieved a $53 million general fund operating surplus after transfers and a $157 million undesignated general fund balance, which is equal to 3.6% of disbursements. In addition, the state's rainy day reserve had a June 30, 1998, balance of $68 millionfor total combined...
Companies mentioned in this report are:
- West Virginia
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: Full Analysis
- West Virginia