Posted at 1:08 p.m., Friday, June 3, 2005
BUSINESS BRIEFS
State bonds get high rating
Advertiser Staff
Fitch Ratings today assigned a high investment grade rating of AA- to the state of Hawai'i's $18.7 million in new general obligation bonds. Fitch also affirmed the AA- rating on Hawai'i's $4.3 billion total of outstanding general obligation bonds.The AA- rating is a high investment grade designation, just three notches below the top rating of AAA. General obligation bonds are repaid with general revenue and borrowings, in contrast to revenue bonds, which are repaid with revenue from the specific public works project for which they were issued.
