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Summary: Vermont; General Obligation, Moral Obligation; General Obligation, State GO Nov 99 Product Image

Summary: Vermont; General Obligation, Moral Obligation; General Obligation, State GO Nov 99

  • Published: November 1999
  • Region: Vermont
  • Standard & Poors

Abstract
The rating on Vermont's bond bank remains one full category below the state's GO rating. The bond bank's rating is based on Vermont's moral obligation to replenish the bond bank's debt service reserves, if necessary. Vermont's moral obligation to the bond bank has never been called on. The GO rating reflects the full faith credit pledge of the state. The state's general credit characteristics include: A sound financial position and additional security of fully funded stabilization reserves, Prudent fiscal policies that have been consistently followed, An economy that is steadily expanding along established sectors, and A low debt burden. Vermont has emerged as one of the largest exporters in the country on a per capita basis, ranking second to Washington....

Companies mentioned in this report are:
- Vermont

Action: New Rating

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