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

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

  • ID: 2087585
  • March 2012
  • Region: California
  • Standard & Poors

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

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- California
- California State Pub Wks Brd

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