Nevada Retains Good Bond Ratings

CARSON CITY, Nev. (AP) - Despite economic troubles, Nevada has
retained its good bond ratings, according to the state treasurer's
office.

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.)

AP-NY-03-28-08 1309EDT


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 17088176 - kolotv.com/a?a=17088176