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Fitch Ratings
Fitch Rates $1.5B State of California General Obligation Bonds 'A+'
July 6th, 2008
Fitch Ratings assigns an 'A+' rating to $1.5 billion State of California various purpose general obligation (GO) bonds. The bonds now offered are expected to sell via negotiation on or about June 24. Bonds will consist of serials and term bonds; maturities and call provisions will be determined upon pricing. In addition, Fitch maintains the 'A+' rating and Rating Watch Negative on approximately $47.5 billion in outstanding GO and veterans GO bonds. Since January, when Fitch placed California's GO bonds on Rating Watch Negative (See Fitch's release of Jan. 14, 2008), the state's cumulative fiscal 2008 and 2009 budget gap has grown. Although the state's legislature, in...
Source: Pharma Investments, Ventures & Law Weekly (2008-07-06)
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