Summary: Oregon; Appropriations; General Obligation

S&P Global Ratings affirmed its 'AA+' rating on Oregon's general obligation (GO) bonds outstanding, based on the application of its "Methodology for Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. At the same time, we affirmed our 'AA' rating on the state's appropriation-backed (certificates of participation [COPs]) debt outstanding. We also affirmed our 'AA+/A-1' rating on Oregon's various variable-rate demand GO bonds outstanding, which receive liquidity support in the form of a standby purchase agreement (SBPA) with U.S. Bank N.A., and our 'AA+/A-1' rating on the series 2022E variable-rate demand GO bonds, which receive liquidity support in the form of an SBPA with JP Morgan Chase Bank N.A. The long-term component of the rating on certain variable-rate bonds reflects

...+ S&P Global Ratings affirmed its '##+' rating on Oregon's general obligation (GO) bonds outstanding, based on the application of its "Methodology for Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. + At the same time, we affirmed our '##' rating on the state's appropriation-backed (certificates of participation [COPs]) debt outstanding. + We also affirmed our '##+/A-1' rating on Oregon's various variable-rate demand GO bonds outstanding, which receive liquidity support in the form of a standby purchase agreement (SBPA) with U.S. Bank N.A., and our '##+/A-1' rating on the series 2022E variable-rate demand GO bonds, which receive liquidity support in the form of an SBPA with JP Morgan Chase Bank N.A. The long-term component of the rating on certain variable-rate bonds reflects our view of the state's credit characteristics, while the short-term component of the rating reflects our view of the liquidity support in the form of an SBPA by their respective providers. + The...

Summary