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California Department of Veterans Affairs' Home Purch Rev Bonds Rated 'AA-'; Outlook Stable Mar 00
Standard & Poors, March 2000
Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) March 6, 2000--Standard & Poor's today assigned its double-`A'-minus rating to the California Department of Veterans Affairs' $159.8 million home purchase revenue bonds series 2000A, 2000B, and 2000C. In addition, Standard & Poor's affirmed its double-`A'-minus rating on the department's outstanding home purchase revenue bonds and GO bonds. The outlook is stable. The rating on the GO and revenue bonds is based on the assets in the Veterans Farm and Home Building Fund of 1943 (1943 Fund). The GO bonds are additionally secured by the full faith and credit of California (double-'A'-minus GO bond rating). Credit strengths of the 1943 Fund include: -- The quality of the contracts of purchase and investment securities; --...
Companies mentioned in this report are: 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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