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California's Veterans Bonds Rated 'AA-' Nov 01
Standard & Poors, Nov 2001
Abstract
SAN FRANCISCO (Standard & Poor's) Nov. 28, 2001--Standard & Poor's today assigned its double-'A'-minus rating to $111.33 million of California veterans GO bonds, series BY and BZ and $117.2 million of California Department of Veterans' Affairs' home purchase revenue bonds series 2002A. In addition, Standard & Poor's affirmed its double-'A'-minus rating on California's veterans GO bonds and the department's outstanding home purchase revenue bonds. The rating outlook is stable for all bonds. The ratings reflect the credit strength of the Veterans Farm and Home Building Fund of 1943 (1943 Fund). Credit strengths of the 1943 Fund include: -- The overall quality of the contracts of purchase and investment securities; -- The successful implementation by management of programmatic changes that effectively...
Companies mentioned in this report are: California,California Dept of Vet Affairs
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.
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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