Vermont 2010 Special Infrastructure Bond Rating Raised To 'AA+' On Improved Debt Service Coverage Jul 12
- Language: English
- Published: July 2012
- Region: Vermont
The 'AA+' rating on Vermont's series 2005E GO "citizen 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. Vermont's financial position remains strong. Fiscal 2005 is estimated to have closed with a $54 million surplus. Following transfers to the health trust account ($21.1 million), the transportation fund ($4.8 million), the teachers retirement fund ($4.0 million), and various other smaller transfer...
Companies mentioned in this report are:
Action: New Rating
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: Full Analysis