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Byline: The Register-Guard

NORTHWEST

Rating on Oregon G.O. bonds

rises a notch to AA-minus

The ratings on Oregon's $5.3 billion of debt were raised by Fitch Ratings, which cited the state's improved economy and higher revenue from taxes and fees.

Fitch raised its rating on $4.1 billion of Oregon's general obligation bonds by one level to AA-minus from A-plus; and increased $1.3 billion of appropriation and lease bonds to A-plus from A, the company said in a statement.

Higher ratings can lower borrowing costs as investors are willing to accept lower yields on bonds considered less likely to default.

The state suffered three rating reductions in 2003 after its finances were weakened by falling revenue from income taxes, its primary source of revenue.
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Title Annotation:Government
Publication:The Register-Guard (Eugene, OR)
Date:Apr 12, 2005
Words:127
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