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California Department of Veterans Affairs' GO Bonds Rated 'AA-'; Outlook Stable Mar 00
Standard & Poors, March 2000
Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) March 23, 2000--Standard & Poor's today assigned its double-`A'-minus rating to the California Department of Veterans Affairs' $40 million veterans GO bonds series BJ and $26.5 million veterans GO bonds series BS, both issued for the state of California. The outlook is stable. 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...
Companies mentioned in this report are: California Dept of Vet Affairs,California
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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