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California Vet GO Bnds Rtg Lowered; Removed from CreditWatch Apr 01
Standard & Poors, April 2001
Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) April 24, 2001--The rating on California's Veterans GO bonds, issued for the California Department of Veterans Affairs, is removed from CreditWatch and downgraded to double-'A'-minus from double-'A'. The outlook is stable. The downgrade reflects the downgrade of the state's GO rating to single-'A'-plus. The state's Veterans GO bonds are downgraded only to double-'A'-minus however, reflecting the strength of the assets and revenues of the Veterans Farm and Home Building Fund of 1943 (1943 Fund). The rating on the Department of Veterans Affairs home purchase revenue bonds is affirmed at double-'A'-minus and also reflects the credit strength of the 1943 Fund. Credit strengths of the 1943 Fund include: - - The overall quality of the...
Companies mentioned in this report are: California,California Dept of Vet Affairs
Action: Various Rating Actions
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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