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West Virginia; General Obligation, State GO Dec 99 Product Image

West Virginia; General Obligation, State GO Dec 99

  • Published: December 1999
  • Region: Virginia, West Virginia
  • Standard & Poors

Abstract
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

Action: Affirmed

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- West Virginia

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