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Summary: Virginia Virginia Resources Auth; Moral Obligation; State Revolving Funds/Pools Jun 08 Product Image

Summary: Virginia Virginia Resources Auth; Moral Obligation; State Revolving Funds/Pools Jun 08

  • Published: June 2008
  • Region: Virginia
  • Standard & Poors

FEATURED COMPANIES

  • Virginia
  • Virginia Resources Auth
  • MORE

Abstract
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
- Virginia Resources Auth

Action: Affirmed
Action: New Rating

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- Virginia
- Virginia Resources Auth

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