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California $500M GO Bonds Rated 'AA-' Oct 99
Standard & Poors, Oct 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) Oct. 15, 1999--Standard & Poor's today assigned its double-'A'-minus rating to California's $500 million GO bonds dated Oct. 1, 1999 due Oct. 1, 2029. The bonds are scheduled to sell Oct. 20, 1999 In addition, Standard & Poor's affirmed its double-'A'-minus rating on California's outstanding GO bonds. The rating reflects the following strengths: -- A strong, diversified, and growing economy that has demonstrated resilience in light of weaknesses in Asia, which is one of California's key export markets; -- Recent trends of a positive fiscal 1998 GAAP general fund balance, a continued positive budgetary basis fund balance at the end of fiscal 1999, and conservative budgeting in the adopted fiscal 2000 state budget; --...
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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