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Summary: Vermont; General Obligation Feb 12

  • ID: 2084317
  • February 2012
  • Region: Vermont
  • Standard & Poors

Standard & Poor's Ratings Services has assigned its 'AA+' long-term rating to Vermont's series 2012 A-D general obligation bonds (GO) and affirmed its 'AA+' rating, and stable outlook, on the state's GO bonds outstanding. The ratings reflect our opinion of the state's: Strong financial management that has helped it maintain a good financial position in an environment of declining revenue; and Rapid GO debt amortization. The state's GO bonds are secured by the state's full faith and credit pledge. The series A, B, and C bond proceeds will be used for various capital projects. The series D bond proceeds will be used for refunding, with net present value savings of around 8%. Vermont, with a 2010 population of 625,700, is...

Companies mentioned in this report are:
- Vermont

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 READ MORE >

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