|
|
 |
|
Viewing report
|
|
|
|
California; General Obligation Oct 07
Standard & Poors, Oct 2007
Abstract
Standard & Poor's Ratings Services assigned its 'A+' rating, and positive outlook, to California's various-purpose GO bonds and GO refunding bonds. At the same time, Standard & Poor's affirmed its 'A+' rating and underlying rating (SPUR), with a positive outlook, on the state's GO parity debt. The 'A+' GO rating reflects the following: California, with a population of 37 million, has a large and diverse economy that has recently exhibited strong economic growth, producing healthy tax revenue increases. The state recorded a small, but positive, unreserved GAAP general fund balance as of fiscal year-end 2006, the last audited year. Overall net tax-supported debt levels are rising, but currently remain at moderate levels. Debt per capita of $1,601 has almost doubled...
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
|
|
|
|
