CARSON CITY, Nev. (AP) - Despite economic troubles, Nevada has
retained its good bond ratings, according to the state treasurer's
The state this week sold $10 million in open space and parks bonds to UBS Securities and will pay an interest rate of 4.48 percent. UBS also purchased $22.5 million in parks and natural resources bonds at a 4.59 percent interest rate.
Robin Reedy, chief deputy state treasurer, said Fitch and Standard and Poor's both put the state's bond rating at AA+, and Moody's gives Nevada an Aa1 rating, indicating "high quality."
The state faces a projected shortfall nearing $800 million over the next 15 months. State agencies have cut their budgets more than 4 percent, and may face additional reductions.
Information from: Las Vegas Sun, http://www.lasvegassun.com
(Copyright 2008 by The Associated Press. All Rights Reserved.)