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Virginia Public Building Authority's 2012A Revenue Bonds Rated 'AA+'; Parity Debt Ratings Affirmed At 'AA+' Feb 12

  • ID: 2050401
  • February 2012
  • Region: Virginia
  • Standard & Poors
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  • Virginia
  • Virginia Pub Bldg Auth
  • MORE

NEW YORK (Standard & Poor's) Feb. 6, 2012--Standard & Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to Virginia Public Building Authority's (VPBA) series 2012A public facilities revenue bonds, supported by Virginia (AAA/Stable general obligation (GO) debt rating). At the same time, Standard & Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR), with a stable outlook, on the authority's parity debt. "The rating reflects our opinion of Virginia's general credit quality," said Standard & Poor's credit analyst John Sugden-Castillo. Also supporting the rating are: The governor's inclusion of sufficient amounts to pay debt service on the bonds and other expenses in each biennial or supplemental commonwealth budget, and The General Assembly's appropriation of such amounts...

Companies mentioned in this report are:
- Virginia
- Virginia Pub Bldg Auth

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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- Virginia
- Virginia Pub Bldg Auth

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