- Language: English
- Published: May 2012
- Region: Virginia
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
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 >