Nevada; General Obligation Jul 08
Standard & Poors, July 2008
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating to the state of Nevada's general obligation bonds series 2008C-G, totaling $297.6 million. In addition, Standard & Poor's affirmed its 'AA+' rating and underlying rating (SPUR) on the state's outstanding GO bonds. The rating reflects: A willingness to address a significant biennial $1.17 billion budget gap with timely budget balancing measures; The economy's concentration in gaming and tourism, a sector that continues to create jobs in Southern Nevada; and Continued construction activity along the Las Vegas Strip, which provides a degree of economic stability. The above strengths offset the following concerns: A seriously weakened economy weighted by a recessed residential real estate market; A sluggish tourist and gaming sector, which is...
Companies mentioned in this report are:
- Nevada
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
Nevada
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