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Ohio's Series 2012A Infrastructure Improvement General Obligation Bonds Rated 'AA+', Stable Outlook Feb 12
Standard & Poors, Feb 2012
Abstract
NEW YORK (Standard & Poor's) Feb. 10, 2012--Standard & Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to Ohio's $120 million series 2012A infrastructure improvement general obligation bonds (GO). At the same time, Standard & Poor's affirmed its 'AA+' rating, with a stable outlook, on parity GO debt outstanding. We understand that bond proceeds will be used to fund various capital projects authorized under the program. The GO rating reflects what we view as: Ohio's long track record of proactive financial and budget management, including its implementation of frequent and timely budget adjustments over time to mitigate lower revenues; The availability of various reserves at the start of the recession, which were instrumental in managing budget gaps...
Companies mentioned in this report are: Ohio
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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