|
|
 |
|
Viewing report
|
|
|
|
California; General Obligation; General Obligation Equivalent Security; Note; School State Program Mar 10
Standard & Poors, March 2010
Abstract
Standard & Poor's Ratings Services assigned its 'A-' rating to the State of California's $2 billion (estimated) various-purpose general obligation (GO) bonds (federally taxable) and affirmed its 'A-' long-term and underlying ratings (SPUR) on California's $63.38 billion of existing GO debt. We understand that a portion of the state's current bond offering will likely be issued as federally taxable Build America Bonds (BABs), pursuant to the American Recovery and Reinvestment Act (ARRA) of 2009. We also affirmed our 'A-' rating on the state's $1.9 billion Proposition 1A receivables program bonds. At the same time, we affirmed our 'SP-1' short-term rating on the state's $8.8 billion in revenue anticipation notes (RANs). The outlook is negative. The rating affirmations reflect our view...
Companies mentioned in this report are: 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: Full Analysis
|
|
|
|
