Nevada; Appropriations; General Obligation Jun 07
Standard & Poors, June 2007
Abstract
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...
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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