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California's GO Bonds Rated 'A+'; Outstanding Debt Affirmed at 'A+' Oct 01
Standard & Poors, Oct 2001
Abstract
NEW YORK (Standard & Poor's) Oct. 29, 2001-Standard & Poor's today assigned its single-'A'-plus rating to California's $1 billion GO bonds dated Nov. 1, 2001, due Nov. 1, 2031. The bonds are scheduled to sell on Oct. 30, 2001. At the same time, Standard & Poor's affirmed its single-'A'-plus rating and single-'A'-plus underlying rating (SPUR) on the state's outstanding GO bonds. The outlook is negative. The rating reflects: -- A large, diverse, and growing economy of 34 million people, which has been recently performing better than the nation; -- The impact on the state's general fund of $6.1 billion of purchases of electrical power to avoid blackouts, and the economic fallout of the state's energy crisis; -- Prospects for substantial...
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: 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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