Summary: Virginia Virginia Resources Auth; Moral Obligation; State Revolving Funds/Pools Jun 08
- ID: 2024336
- June 2008
- Region: Virginia
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Virginia Resources Authority's series 2008A senior-lien infrastructure revenue bonds, based on projected excess cash flows and reserves that continue to meet Standard & Poor's requirements for 'AAA' rated municipal pools. At the same time, Standard & Poor's assigned its 'AA' rating, and stable outlook, to the authority's series 2008A subordinate-lien pooled loan fund bonds, based on the commonwealth of Virginia's moral obligation pledge. In addition, the 'AAA' and 'AA' long-term ratings and 'AA' underlying ratings (SPURs) on the authority's previously issued debt were affirmed. The 'AAA' rating also reflects: The existing program participants' sufficient credit quality and diversification, with continued diversification expected as additional identified loans are...
Companies mentioned in this report are:
- Virginia Resources Auth
Action: New Rating
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