State bonds receive AA- rating

by DeLadurantey Law Office, LLC on August 31, 2009

The State of Wisconsin has received an AA- rating from Fitch Ratings for its $53,445,000 general obligation bonds. The bonds are scheduled to be sold this week.

The relatively favorable rating was due to the state’s strong revenue, diverse economy, and above-average manufacturing sector. The rating was not  higher because of the state’s reliance on nonrecurring items and other revenue streams that are not part of normal operations.

The state decided to issue the bonds because the lower-than-usual revenues brought in by taxes. The  lower revenues, however, were not surprising given the status of the overall  economy.

If your business believes its debt securities have been rated unfairly, contact the Milwaukee debt restructuring lawyers of the De Ladurantey Law Office, LLC, at 414-377-0518.

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