S&P: Louisiana 2016-A GO Bonds Assigned 'AA' Rating; Outlook Negative
"The rating reflects our view of a constitutional requirement that requires balanced budgets and recent proactive budget adjustments in an effort to align revenue and expenditures in the near term," said S&P Global Ratings credit analyst Nora Wittstruck. "The rating also reflects our view of moderate debt ratios with a strong legal framework for debt repayment," Ms. Wittstruck added.
The series 2016-A bond proceeds will provide takeout financing for the state's series 2016-A GO bond anticipation notes (BANs) and permanently finance capital projects initially undertaken with the BAN proceeds.
The negative outlook reflects our view of Louisiana's continued weakness in economic and revenue trends.
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