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Fitch Ratings
Fitch Rates Florida's $200MM 2008B Lottery Revs 'A'
August 10th, 2008
Fitch assigns an 'A' rating to the State of Florida's (the state) $200 million lottery revenue bonds, series 2008B, to be issued on behalf of the State Board of Education upon 18 hours' notice, expected the week of July 28th. In addition, Fitch affirms the rating on approximately $2.5 billion in outstanding lottery revenue bonds at 'A'. The Rating Outlook is Stable. The bonds are secured solely from a first lien on the statutory allocation of lottery revenues deposited into the Educational Enhancement Trust Fund (EETF). Florida's voter-approved lottery began in 1988 and proceeds are constitutionally dedicated to educational purposes. Total lottery sales had approximated...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-10)
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