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California State Public Works Board Lease Revenue Bonds Rated 'AA-' Feb 08
Standard & Poors, Feb 2008
Abstract
NEW YORK (Standard & Poor's) Feb. 25, 2008--Standard & Poor's Ratings Services assigned its 'AA-' rating to the California State Public Works Board's $250 million 2008 series A, $25 million 2008 series B, and $14 million 2008 series C lease revenue bonds, issued for The Regents of the University of California (Regents). The 'AA-' rating assigned to the lease revenue bonds reflects the Regents' obligation to make rental payments to the board, equal to debt service, from lawfully available funds. The outlook is stable. 'We expect that state funding will continue to be favorable in a more challenged economic environment, positive operating performance will continue at the university, and growth in debt will be matched by increases in financial resources,'...
Companies mentioned in this report are: University of California Brd of Regents,California State Pub Wks Brd
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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