Vermont; Tax Secured, General Obligation Dec 05
- ID: 2084435
- December 2005
- Region: Vermont
- Standard & Poors
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...
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Action: New Rating
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