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
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 Pub Bldg Auth
Action: New Rating
Action: Outlook: Stable
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Research type: News
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