Summary: Nevada; Appropriations; General Obligation Jun 06
- ID: 2087118
- June 2006
- Region: Nevada
- Standard & Poors
Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA+' from 'AA' on the state of Nevada's GO bonds, reflecting the gradual diversification of the state's revenue base and the recently adopted statutory provisions for rainy day fund (RDF) replenishment. In addition, the 2005-2007 budget further demonstrates a commitment to reserve replenishment by making additional appropriations to the reserve during the current period of very strong revenue growth, which continues to exceed projections. Standard & Poor's also assigned its 'AA+' rating to Nevada's series 2006 A-D GO bonds. The rating reflects: A growing, although heavily tourist-reliant, economic base; Strong financial management, with a demonstrated commitment to maintaining and replenishing reserves; A diversifying trend in the state...
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Action: New Rating
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