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S&P Rts VA Resources Auth Rev Bnds AA; Outst Rtg Afmd Nov 97 Product Image

S&P Rts VA Resources Auth Rev Bnds AA; Outst Rtg Afmd Nov 97

  • ID: 1902788
  • November 1997
  • 128 Pages
  • Standard & Poors

Abstract
NY -- Standard & Poor's CreditWire 11/19/97 -- Standard & Poor's today has assigned its double-`A' rating to Virginia Resources Authority's (VRA) water and sewer system revenue bonds series 1997 (Rapidan Service Authority - Refunding) dated Nov. 15, 1997 due Oct. 1, 2018. The bonds are expected to price on Nov. 20, 1997. Additionally, Standard & Poor's has affirmed its double-`A' rating on the VRA's outstanding G.O. debt. The outlook is stable. The double-`A' rating reflects the moral obligation of the Commonwealth of Virginia to replenish the capital reserve fund, if necessary. The General Assembly is authorized, but not obligated, to appropriate the amount of the deficiency to restore the reserve to its required level (maximum annual debt service). The...

Companies mentioned in this report are:
- Virginia Resources Auth

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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