Outlook On Ohio Revised To Stable Based On Structural Budget Balance Progress Jul 11
- ID: 2025764
- July 2011
- Region: Ohio
- Standard & Poors
NEW YORK (Standard & Poor's) July 15, 2011--Standard & Poor's Ratings Services revised its outlook to stable from negative on the 'AA+' rating on Ohio's general obligation (GO) bonds. The outlook revision reflects the state's progress in restoring structural budget balance through fiscal 2013 and the modest economic recovery underway, which has stabilized revenues. At the same time, we assigned a 'AA+' long-term rating to Ohio's $416.75 million GO refunding bonds. The rating reflects our view of: Ohio's long track record of proactive financial and budget management, including its implementation of frequent and timely budget adjustments over time to mitigate lower revenues; The availability of various reserves at the start of the recession, which has since allowed the state to...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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Research type: News
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