Moody's Meeting Brings Hope to Virginia Governor

Vadum, Matthew
May 2004
Bond Buyer;5/25/2004, Vol. 348 Issue 31891, p4
Trade Publication
Reports that Virginia Governor Mark R. Warner is optimistic about the state's prospects for avoiding a downgrade of its general obligation (GO) rating with Moody's Investors Service after meeting with the credit agency in New York City. Factors cited by the agency as the reason for placing the state's Aaa GO rating on watch for a possible downgrade in the fall in 2004; Virginia General Assembly's approval of a $60 billion balanced fiscal 2005 to 2006 biennial budget with more than $1 billion of tax-exempt bond authority; Assessment of the meeting by Warner; Rating given by Standard & Poor's for the state's GO debt; Features of the revenue-raising package approved by the state's legislators.


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