Tennessee Governor Pushes $25B Budget With $358M of Bonds

DeSue, Tedra
February 2005
Bond Buyer;2/2/2005, Vol. 351 Issue 32062, p4
Trade Publication
This article informs that Tennessee Governor Phil Bredesen Monday night unveiled a roughly $25 billion budget for fiscal 2006 that includes $358 million of bonds. The recommended debt authorization is about $135 million less than the amount approved for fiscal 2005, which ends June 30, 2005. However, it is still more than in fiscal 2004, when no bonds were authorized. Tennessee lost its triple-A bond rating in 2000 when expenses outstripped revenues. Tennessee is now rated Aa2 by Moody's Investors Service and AA by Fitch Ratings and Standard & Poor's.


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