Small Business Reading Room

Friday, June 30, 2006

Delaware’s Triple A Bond Rating Reaffirmed by Wall Street

Governor Ruth Ann Minner has announced that all three of the major rating agencies, Moody’s Investors Service, Standard & Poor’s and Fitch Ratings, have reaffirmed Delaware’s triple-A rating. The ratings were received in conjunction with a sale of the state’s general obligation bonds scheduled for July 11th through 13th.

For example, the credit reports issued by each of the rating agencies will be available online at

“This is the 11th consecutive time that Delaware has earned a triple-A rating,” says Gov. Minner. “It is because of this premier rating that investors find our bonds appealing, and we are pleased to be able to offer them to Delaware’s investors.”

The proceeds of the July bond sale will fund the construction of public and higher education buildings and other state facilities.

Delaware is one of only six states currently holding a triple-A rating from each agency. The triple-A rating is the highest rating awarded by the nationally recognized rating agencies and, having the lowest assessment of repayment risk, allows state government to borrow money at the lowest possible interest rate, thus ultimately saving its taxpayers money.

In its second offering to individual investors, Delaware will reserve $43 million of an approximately $172 million issue to be sold on July 11th and 12th through local brokers. The bonds, which are tax-exempt for federal and Delaware income purposes, will be available in increments of $1,000.

To correspond with the sale of the bonds, Delaware has dedicated an area of its website to investor information. The site, accessible through, will offer details about the upcoming sale, such as a list of participating brokers, as well as the state’s financial reports.

Merrill Lynch was selected as the lead agent for the marketing of the retail bonds and will be joined by A.G. Edwards, Alta Capital Group, Apex Pryor Securities, Bank of America Securities, Bear Stearns, Citigroup, Edward Jones, Ferris Baker Watts, First Albany, Janney Montgomery Scott, Loop Capital Markets, Stifel Nicolaus & Company and UBS Investment Bank.

Thursday, June 29, 2006

Senators fight taxes on Internet connections

That's not a typo, they are actually fighting taxes.

Under bills that advanced in the US Senate yesterday, Federal taxes on local telephone calls would disappear, and new state and local taxes on Internet connections and cell phones could not appear. In two committees, senators voted to forever block state and local governments from taxing connections that link consumers to the Internet. A temporary ban on such taxes expires in 2007.

Sounds like that could be good boost for e-commerce.

Read the whole article: | 06/28/2006 | Senators fight taxes on local calls, Internet connections, cell phones

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Delaware Intercorp, Inc.
113 Barksdale Professional center
Newark, DE 19711-3258

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