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Summary: California State Public Works Board California; Appropriations Mar 12

  • ID: 2087585
  • March 2012
  • Region: California
  • Standard & Poors
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Abstract
Standard & Poor's Ratings Services assigned its 'BBB+' long-term rating to the California State Public Works Board's (SPWB) $913 million series 2012A lease revenue bonds issued for various capital projects. The bonds are being issued by the SPWB on behalf of the state of California. Standard & Poor's also affirmed its 'BBB+' long-term rating and underlying rating (SPUR) on approximately $8.07 billion of California's SPWB lease revenue and lease revenue refunding bonds outstanding (which excludes $2.47 billion of lease-revenue bonds issued by the SPWB for the Regents of the University of California projects). The outlook on the ratings is positive. The ratings reflect our opinion of the state's: Underlying general creditworthiness (A-/Positive general obligation, or GO, rating) and Indenture provisions...

Companies mentioned in this report are:
- California
- California State Pub Wks Brd

Action: Affirmed
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 READ MORE >

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- California
- California State Pub Wks Brd

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