Vermont; Tax Secured, General Obligation Nov 05
Standard & Poors, November 2005
Abstract
The 'AA+' rating on Vermont's series 2005D GO bonds reflects the state's: Strong financial management with conservative debt and budgeting practices, including consensus revenue forecasting in place for more than a decade; Varied economy, with tourism as an anchor and high-tech manufacturing a sizable presence; and Favorable debt position with a low debt burden, rapid amortization, and a trend of more debt being retired than being issued. The state's full faith and credit pledge secures the bonds. The state plans to issue the remaining $15 million of the state debt affordability committee's GO debt issuance cap of $45 million for fiscal 2006 in December 2005. Vermont's financial position remains strong. Fiscal 2005 is estimated to have closed with a $54...
Companies mentioned in this report are: Vermont
Action: New Rating
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Research Type: Full Analysis
Vermont
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