Bangkok--17 Oct--Standard & Poor's
Vermont's strong fiscal controls and steady revenue performance have contributed to its favorable financial position for fiscal 2007 and unaudited fiscal 2008, states the report titled "State Review: Vermont", published today by Standard & Poor's Ratings Services.
The report discusses, in detail, the state's strong financial management, including conservative debt and budgeting practices, that has helped it maintain a good financial position, as well as its favorable debt position.
"We believe Vermont's prudent financial and debt management practices will allow it to maintain a sound financial position. We, however, will continue to monitor the state's ability to maintain its favorable financial position as an economic slowdown potentially lowers revenues," said Standard & Poor's credit analyst Henry Henderson.
The report also discusses Vermont's weakening economy, including rising unemployment; how Vermont's debt burden has remained a credit strength over the past several years, including how the state retires more debt than it issues; and how Vermont is handling its pension and other postretirement employment benefit obligations.
The report is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to [email protected]. Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
Edward Sweeney, New York, (1) 212-438-6634
[email protected]
Analyst Contacts:
Henry W Henderson, Boston (1) 617-530-8314
Karl Jacob, New York (1) 212-438-2111