by Mindy Aguon
Guam - Standard & Poor's has affirmed the Government of Guam's general obligation bonds with a rating of 'B+ with A Stable Outlook'. According to the Government of Guam Rating Report, the rating for the G.O. bonds is based on the government's continued very large General Fund deficit position, long-term liabilities, and operating cash flow pressures with the General Fund deficit increasing further.
S&P noted that the government's financial reporting has improved slightly and the Stable Outlook reflects their expectation that economic growth is likely to occur throughout the military buildup and beyond.
The ratings authority also affirmed a 'B' rating for the certificates of participation for the John F. Kennedy High School project.