Summary: Virginia Public Building Authority Virginia; Appropriations Nov 10

Standard & Poors, November 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to Virginia Public Building Authority's series 2010B-1 and 2010B-2 public facilities revenue bonds and series 2010B-3 public facilities revenue refunding bonds, supported by Virginia (AAA/Stable general obligation (GO) debt rating). At the same time, Standard & Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR), with a stable outlook, on the authority's parity debt. The rating reflects our opinion of: The governor's inclusion of sufficient amounts to pay debt service on the bonds and other expenses in each biennial or supplemental commonwealth budget, The General Assembly's appropriation of such amounts as payment for principal and interest due on the bonds, and The general credit quality of...

Companies mentioned in this report are:
- Virginia
- Virginia Pub Sch Auth
- Virginia Pub Bldg Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

- Virginia
- Virginia Pub Sch Auth
- Virginia Pub Bldg Auth

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