CALIFORNIA ST REV ANTIC NTS-SER A-1, 3.00%, 05/25/2011
Credit Summary
| State | Issuer | Type | Underlying Obligor | Credit Outlook* | Investor Suitability** | Last Review Date | Bondview Market Rating |
|---|---|---|---|---|---|---|---|
| CA | California, State of | GO - State | Same as Issuer | Positive | Conservative | 09/01/2012 | |
Summary: The Bonds are full faith and credit obligations of the State. The State has experienced financial weakness and periodic cash crises in recent years resulting from the weak US and State economic recovery, a volatile revenue structure and political impediments to making timely deficit reduction decisions. The State has also relied on stop-gap solutions to address long term problems. That said, the State has a large and diverse economy and socio-demographics are substantially above average, making longer term financial prospects positive. Overall we regard the Bonds as being suitable for Conservative investors. |
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*Credit Outlook Definitions
Stable - A Stable Outlook reflects our opinion that the ability of the issuer to meet its debt service requirements as they come due over the next 12 to 36 months, without the benefit of insurance, is Stable.
Positive - An Positive Outlook reflects our opinion that the ability of the issuer to meet its debt service requirements as they come due over the next 12 to 36 months, without the benefit of insurance, is Positive.
Negative - a Negative Outlook reflects our opinion that the ability of the issuer to meet its debt service requirements as they come due over the next 12 to 36 months, without the benefit of insurance, is Negative.
Outlooks do not address any other risk, including but not limited to: liquidity risk, market value risk or price volatility.
**Investor Suitability Definitions
Conservative - Primarily concerned with strictly limiting credit risk to avoid a loss of principal and willing to take significantly lower returns to reduce the chance of loss.
Middle-of-the Road - Primarily concerned with limiting credit risk to avoid a loss of principal and willing to take lower returns to reduce the chance of loss.
Aggressive - Moderately concerned with limiting credit risk to avoid a loss of principal and willing to accept a moderate chance of loss to receive a moderate returns.
Speculative - Somewhat concerned with limiting credit risk to avoid a loss of principal and willing to accept a significant chance of loss to receive superior returns.