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California's GO Bonds and GO Refunding Bonds Rated 'AA'; On CreditWatch Negative Feb 01
Standard & Poors, Feb 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) Feb. 26, 2001--Standard & Poor's today assigned its double-'A' rating to California's $998 million GO bonds due March 1, 2002-2031 and GO refunding bonds due March 1, 2002-2016 and placed it on CreditWatch with negative implications. The bonds are scheduled to sell Feb. 27, 2001. In addition, Standard & Poor's double-'A' rating on California's outstanding GO debt remains on CreditWatch with negative implications. The CreditWatch designation reflects uncertainties surrounding the magnitude of potential state general fund contributions before a long-term solution to the state's current electric power crisis is implemented, as well as its potential effect on the state's economy. The state spent approximately $1.8 billion of general fund money, or 1.5% of 2001...
Companies mentioned in this report are: California
Action: On CreditWatch:Negative
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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