TITLE

S&P Gives Florida GOs A Triple-A

AUTHOR(S)
Sigo, Shelly
PUB. DATE
February 2005
SOURCE
Bond Buyer;2/28/2005, Vol. 351 Issue 32079, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that Florida became a American Automobile Association rated state on when Standard & Poor's Corp. upgraded more than $11 billion of outstanding general obligation debt from AA-plus. Standard & Poor's said its upgrade was based on the state's strong and conservative financial and budget management practices, coupled with substantial budget reserves and economic trends that have been among the strongest nationally. The rating applies to the state's uniquely structured, double-barreled General Obligations that have dedicated revenue streams backed by a full faith and credit pledge, which applies to state board of education capital outlay bonds, right of way acquisition and bridge construction bonds, and public education capital outlay bonds.
ACCESSION #
16260560

 

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