S&P rates Idaho building bonds AA-/A-1+, ups outlook to positive

Standard & Poor's said it revised the outlook to positive from stable on Idaho State Building Authority's debt ratings and Idaho's issuer credit rating. In addition, S&P assigned its AA-/A-1+ to the authority's variable-rate state building refunding revenue bonds, series 2008A.

The change in outlook reflects steady growth in the state's GAAP and budgetary fund balances due to very strong revenue growth, S&P said.

The 2008A bonds will refund the authority's outstanding 1998 state building revenue bonds, secured by state lease payments for use of a 1,250-bed state prison located in Ada County near Boise.

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