Summary: Mississippi; General Obligation; Note Nov 09
- ID: 1931240
- November 2009
- Region: Mississippi
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Mississippi's $21.875 million series 2009B taxable general obligation (GO) note, and $40.252 million series 2009C GO note. At the same time, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on Mississippi's existing GO debt. The series 2009B and 2009C notes are secured by the state's full faith and credit pledge. Note proceeds will be used to provide short-term financing for various projects and programs throughout the state. The 'AA' rating on Mississippi's GO debt reflects the state's: Strong financial position, despite decreased revenue collections for fiscal 2009 and year-to-date for fiscal 2010, with what we consider healthy reserves in the working cash stabilization reserve fund;...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >