TITLE

S&P Changes N.Y. Outlook to Negative, Citing Deficits

AUTHOR(S)
Braun, Martin Z.
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/19/2003, Vol. 344 Issue 31638, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Standard & Poor's revised its outlook on New York's credit rating to negative from stable over concerns that the $92.8 billion spending plan adopted by the state Legislature will lead to budget deficits because revenues don't match future spending. The agency currently assigns a AA rating to the state's $4 billion outstanding general obligation debt and a AA-minus rating to the state's outstanding $20 billion appropriation-backed debt. That package includes a provision to refinance the state's remaining $2.5 billion in Municipal Assistance Corp. debt using $170 million in annual state sales tax revenues pledged through 2034.
ACCESSION #
9880731

 

Related Articles

  • S&P Drops Ohio's Forum Health to BBB-Minus. Carvlin, Elizabeth // Bond Buyer;1/17/2006, Vol. 355 Issue 32299, p5 

    The article reports on the BBB-minus rating assigned by Standard & Poor's Corp. to 121 million dollars of outstanding debt issued in Mahoning County, Ohio. The reason for the downgrade is due to losses over the past few years which have lowered the system's debt service coverage levels. The...

  • S&P Reinstates Rating for Richmond, Calif. Saskal, Rich // Bond Buyer;4/17/2006, Vol. 356 Issue 32361, p4 

    The article reports that Standard & Poor's (S & P) has reinstated its credit ratings on outstanding Richmond, California debt, raising it to investment grade and assigning the city a triple-B plus rating due to incomplete financial information. There were three outstanding bond issues that S & P...

  • Who's Who in Credit Rating Agencies.  // Investment Dealers' Digest;12/17/2001, Vol. 67 Issue 47, pN.PAG 

    Presents information pertaining to credit rating agencies in the U.S. Rating of the financial strength of insurance companies; Methodologies formulated by Standard & Poor's to address dynamic changes in the industry and to adapt local market conditions throughout the world.

  • Fitch Drops Michigan GOs to AA. Carvlin, Ehzabeth // Bond Buyer;12/15/2004, Vol. 350 Issue 32030, p1 

    No abstract available.

  • S&P Puts Pittsburgh on Negative Watch, Citing Budget Woes. D'Ambrosio, Gillian // Bond Buyer;8/27/2003, Vol. 345 Issue 31707, p5 

    Reports that with Pittsburgh, Pennsylvania nearly three quarters of the way through the fiscal year 2003 and still grappling with a structural budget deficit, Standard & Poor's Corp. placed the city's underlying A-minus general obligation rating on CreditWatch negative on August 26, 2003. ...

  • Public Debt: On Red Alert.  // Latin America Monitor: Caribbean Monitor;Nov2008, Vol. 25 Issue 11, p6 

    The article reports on the credit rating of Puerto Rico. Puerto Rico's total outstanding debt have reached $52.95 billion during the first half of 2008 which is an increase of 11.6% in 10 months, while the public debt-to-GDP ratio is projected to reach 86.8%. Moody's and Standard & Poor's...

  • GM, Ford downgrades come sooner than expected; ABS secondary quiet.  // Asset Securitization Report;5/9/2005, Vol. 5 Issue 18, p1 

    Reports on the downgrade of the corporate debt ratings of General Motors Corp. and Ford Motor Co. by Standard & Poor's Corp. Consideration of the poor financial performance of the company; Decline of the stock prices; Factors affecting the deterioration of the financial condition of the firm.

  • S&P Launches Ratings IQuery To Enable Advanced Searches. O'Connor, Katie // Bank Loan Report;6/20/2005, Vol. 20 Issue 24, p10 

    Features the Web-based credit ratings product called Ratings IQuery from Standard & Poor's Corp. in the U.S. Function of the product which provides a more sophisticated tool to analyze the company's data and research; Use of Ratings IQuery for custom research; Advantages of the tool.

  • Hospital Stabilized. DeSue, Tedra // Bond Buyer;9/4/2003, Vol. 345 Issue 31712, p35 

    Presents information on a $200 million debt issued for the New Hanover Regional Medical Center in Wilmington, North Carolina. Assessment of the outlook revision of the debt by the rating agency Standard & Poor's Corp.; Overview of the financial condition of the center; Information on revenue...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics