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Nevada; Appropriations; General Obligation Jun 07
Standard & Poors, June 2007
Standard & Poor's Ratings Services assigned its 'AA+' rating to the state of Nevada's 2007 GO bonds, series A ($19.5 million), B ($270.74 million), and C ($4.5 million). In addition, the rating and underlying rating (SPUR) on the state's $2.2 billion in parity GO debt were affirmed. The rating is supported by the following credit strengths: A growing economic base that has maintained momentum even as the residential real estate market cools; Strong financial management, with a demonstrated commitment to maintaining replenished reserves; and Moderate but growing debt, coupled with a strong pay-as-you-go financing track record. The GO bonds are secured by the state's full faith and credit and are payable from general ad valorem property taxes levied against all...
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