Summary: Vermont; General Obligation Feb 12

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

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