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California's $2 Billion GO Bonds And $133 Million Remarketing Bonds Assigned 'A-' Rating; Outlook Stable Oct 11
Standard & Poors, Oct 2011
Abstract
SAN FRANCISCO (Standard & Poor's) Oct. 10, 2011--Standard & Poor's Ratings Services assigned its 'A-' long-term rating to California's estimated $1.8 billion tax-exempt and $200 million taxable various-purpose general obligation (GO) bonds and $132.89 million taxable GO remarketing Build America Bonds. At the same time, we affirmed our 'A-' long-term rating and underlying rating (SPUR) on California's previously issued GO debt and Proposition 1A bonds. The outlook on all ratings is stable. 'The ratings reflect our view that the state's economy, while very deep and diverse, continues to exhibit gradual recovery from the recession that technically ended in June of 2009,' said Standard & Poor's credit analyst Gabriel Petek. 'The rating also incorporates that following the enactment of the fiscal...
Companies mentioned in this report are: California
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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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