(Editor's note: This article was originally published Nov. 11, 1997. It is being republished now for RatingsDirect.) Positive factors that place the rating in the 'AA category' include: Strong legal provisions that limit parity debt issuance and a reserve account funded from bond proceeds at maximum annual debt service, Solid debt service coverage with positive trends in pledged revenue receipts, Legislative changes that will limit responsibilities placed on the fund and will result in an expenditure reduction of $472 million between 1998 and 2002. Revised budget projections for the Special Transportation Fund, reflecting more of a balance between the responsibilities placed on the fund and the funding sources earmarked for the capital improvement program. Credit risks include: Continued political pressure
