Summary: Vermont; General Obligation Feb 09

Standard & Poors, February 2009

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating, and stable outlook, to Vermont's series 2009A general obligation (GO) bonds and affirmed its 'AA+' rating, with a stable outlook, on the state's existing GO debt. The ratings reflect our opinion of the state's: Strong financial management, including conservative debt and budgeting practices, that has helped it maintain a good financial position; and Low debt burden and rapid debt amortization. Vermont, with a population estimate of 626,322, is in northern New England, bordered by New York State, Massachusetts, New Hampshire, and Canada. The state's population has recently grown slower than the nation as a whole; for 2003-2008, its population grew by 1.1% compared with the nation's 4.6%. State median household and...

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 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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Vermont

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