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Article: States begin to back school districts' credit to lift ratings.(Trends in the Region - Far West)
- Article from:
- The Bond Buyer
- Article date:
- March 22, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Banking on their high credit ratings, Utah and Wyoming - like a growing number of states - are looking to offer their local school districts credit enhancement in hopes of garnering top ratings without the need for bond insurance.
These types of bond guarantee programs - currently operating in 17 states - strengthen a local issuer's credit quality, and in some cases function as complete credit substitutions to bondholders.
Wyoming's program received high marks recently from the top-three credit rating agencies, earning triple-A's across the board.
Utah's guarantee program, approved late last month by state lawmakers, is expected to receive the same ...