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;...
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Action: New Rating
Action: Outlook: Stable
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