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S&P Credit Research2328 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services has assigned its 'AAA' rating, and stable outlook, to Virginia Resources Authority's (VRA) series 2009B Infrastructure Pool Revenue bonds and Infrastructure Pool Revenue Build America Bonds (BABs), based on projected excess cash flows and reserves that continue to meet Standard&Poor's requirements for 'AAA' rated municipal pools. At the same time, Standard&Poor's assigned its 'AA' rating, and stable outlook, to the authority's series 2009B State Moral Obligation Revenue bonds and State Moral Obligation Revenue BABs, based on the commonwealth of Virginia's moral obligation pledge. In addition, Standard&Poor's affirmed the 'AAA' and 'AA' long-term ratings and 'AA' underlying ratings (SPURs) on the authority's previously issued debt. The 'AAA' rating also reflects
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| Brief Excerpt: | RESEARCH Ratings Definitions Virginia Resources Authority Virginia; Moral Obligation; State Revolving Funds/Pools Publication date: 03-Nov-2009 Primary Credit Analyst: John Sugden-Castillo, New York (1) 212-438-1678; john_sugden@standardandpoors.com...
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| Report Type: | Full Report
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| Issuer: | Virginia
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| Sector: | Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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