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Fitch Ratings assigns an 'AAA' rating to the following state of Vermont general obligation (GO) bonds "stable" based on low debt and a conservative fiscal policy. While Fitch is concerned with things like a higher-than average unfunded pension ratio, a slow recovery from the recession and an aging population, the overall outlook is relatively positive. The bonds (see list below) are expected to sell the week of November 17, 2014; the series A bonds through negotiation and the series B and C bonds through competitive bid. In addition, Fitch affirms the 'AAA' rating on the state's outstanding $560.85 million GO bonds.

The Rating Outlook is Stable.

--$25 million GO bonds, 2014 series A (Vermont Citizen Bonds);

--$50 million GO bonds, 2014 series B;

--$36 million GO refunding bonds, 2014 series C.

SECURITY

The bonds are general obligations of the state of Vermont backed by the state's full faith and credit.

KEY RATING DRIVERS

Teams from National Life Group’s Sentinel Investments asset management company raised money and collected food for the Vermont Foodbank this week while challenging other companies to do the same. Sentinel employees split up into teams to create “Canstruction” structures made from canned goods that will be donated to the Foodbank. Canstruction is a charity that has inspired creation of elaborate structures made of canned goods all over the world that are then donated to hunger relief.

This is the second year that Sentinel employees have participated. This year, they collected more than 3,000 canned goods and an additional $1,000 for the Vermont Foodbank.

Lieutenant Governor Phil Scott and Vermont Republican legislative leaders in a statement today encouraged the Democrat majority, Independents and Progressives to reach across the aisle and join the effort to craft and pass pro-growth economic policies which reduce the cost of living, encourage job creation and help lift wages for working Vermonters. They also called for the dismantling of Vermont Health Connect, the state's own exchange, and move to the federal health care exchange, and a reinstitution of Catamount Health to cover low income Vermonters.

Scott said Republicans are prepared to work together with Independents, Democrats and Progressives to grow Vermont’s economy and make the state a more affordable place to live.

Vermont Business Magazine After several months of relatively weak performance, the Personal Income tax, Vermont's most important revenue source, had a bad month, once again dragging down overall tax revenues, according to the October results. The results for the PI tax also showed that they were down not only against current targets, but against targets for the fiscal year to date. The Corporate tax, which has been a significant and strong part of the state's revenue stream, also had a down month but is still running close to 20 percent ahead of expectations for the year.

Vermont Gas Systems has been named the 2014 Business of the Year by the Franklin County Industrial Development Corporation (FCIDC). Each year the FCIDC, a private, non-profit development corporation sponsored by the State of Vermont and Franklin County businesses and municipalities, recognizes a Vermont business that fosters economic growth.

The FCIDC says Vermont Gas’ recent addition of 14 miles of natural gas distribution pipeline to the village of Enosburg Falls has given nearly 600 residential and commercial customers access to an affordable and cleaner energy option. Over 40% have switched in just the first year and all together they are expected to save about $900,000 this year.

Vermont Gas accepted the award at a reception on Thursday, November 6.

Tim Smith, executive director at FCIDC said natural gas is a cornerstone of the county’s economic strategy.

Today, Fletcher Allen Health Care filed the final project costs for our inpatient bed replacement project with the Green Mountain Care Board. This was the final part of a three-part submission in the Certificate of Need (CON) application process. Part one was preliminary planning under the Conceptual CON issued in August 2013, and part two was the submission of our building proposal at the end of September 2014. This portion of the CON application includes the total project cost of $187.3 million, associated financial tables and construction plans. Fletcher Allen anticipates the building will be ready for occupancy in just under four years.

· Total project will cost $187.3M

· Building would contain 128 single-bed inpatient rooms

· Occupancy anticipated in September 2018

Vermont Business Magazine New weekly unemployment claims in Vermont were up for the fifth straight week. This is in stark contrast to the summer and early fall. again last week and are near 800 claims for the first time in several months. Levels this year had been running consistently lower than those of last year, but are now running ahead of last year's numbers. For the week of November 1, 2014, there were 922 new, regular benefit claims for Unemployment Insurance in Vermont. This is an increase of 125 from the previous week's total, and 139 more than they were a year ago.

by Morgan True vtdigger.org For many observers, Rep. Mike Fisher’s defeat in the Addison 4 district came as a surprise, and as a rebuke of Vermont’s push for single-payer health care. Fisher, an eight-term incumbent Democrat, serves as Chair of the House Health Care Committee, and helped to craft Act 48, the legislation putting Vermont on a path to single-payer. “Having him out of the picture is a big loss,” said Dr. Deb Richter, president of Vermont Health Care For All, a single-payer advocacy group.

Vermont Business Magazine Republican gubernatorial candidate Scott Milne today criticized Democratic Governor Peter Shumlin for his claim of victory in the 2014 gubernatorial race. Milne also suggested that a recount may be in order. Shumlin held a press conference in Burlington Wednesday afternoon stating that he had won the election based on an Associated Press count showing he received about 2,000 votes more than runner-up Milne. He did not receive a clear majority, however, which would leave the race up to the Legislature to officially decide, controlled by Democrats in the House and Senate. As he waits for the last ballots to be sent from a handful of town clerks, Secretary of State Jim Condos is reporting on his election Web site that with 96.36 percent of the vote counted, Shumlin had 88,419 votes or 46.36 percent of the vote and Milne had 85,983 votes or 45.08 percent of the vote.

Vermont Attorney General William H Sorrell, working closely with the Agency of Natural Resources and the Natural Resources Board, filed suit today against Moretown Landfill, Inc (MLI) relating to its operation of the Moretown Landfill. The suit seeks civil penalties for alleged violations of the Vermont Solid Waste Management Rules, Air Pollution Control Regulations, Water Pollution Control statute, a solid waste facility certification, Act 250 land use permit, and stormwater construction permit. Some of the alleged violations continued over a period of years. The Complaint was filed on November 6, 2014 in Washington Superior Court.

On Saturday, November 8, representatives of Champlain College’s Robert P. Stiller School of Business at Champlain College will dedicate the David L Cooperrider Center for Appreciative Inquiry, the only academic center in the world that focuses solely on the positive organizational development practice known as Appreciative Inquiry. The new center of excellence at Champlain College is named for Dr David L Cooperrider, an internationally-renowned academic leader, business consultant, motivational speaker and author of 15 books who has a long affiliation with Champlain College and Vermont. Bob Stiller, who founded Green Mountain Coffee Roasters, and his wife Christine gave a transformational gift of $10 million in 2012 to support programs in Appreciative Inquiry at Champlain College.

As winter rapidly approaches, this can be an exciting time for some Vermonters waiting for the first flakes of snowfall on the Green Mountains. It can also be a difficult time for too many Vermonters as the arrival of colder weather puts many at risk of not being able to heat their homes over the long winter months. Green Mountain Power is donating $130,000 to WARMTH, a program that helps Vermonters with heating emergencies. The company urges others to get involved and support this critical program.

“Helping our neighbors is a core Vermont value that we share with thousands of Vermonters who contribute to the WARMTH program,” said Mary Powell, President and Chief Executive Officer of Green Mountain Power. “We are very pleased to make this donation to help ensure that those who need help with heating costs stay warm this winter. We hope that others will join by giving what they can using the convenient donation slips in your GMP bills this month.”