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Summary: Kirkwood Comnty Coll, IA; Tax Secured, General Obligation Oct 04 Product Image

Summary: Kirkwood Comnty Coll, IA; Tax Secured, General Obligation Oct 04

  • Published: October 2004
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Kirkwood Community College, Iowa's series 2004-1A taxable industrial new jobs training certificates and series 2004-1B industrial new jobs training certificates. The rating reflects the college's: Robust $23 billion property tax base, which encompasses a diverse 18-county area and includes the Cedar Rapids and Iowa City MSAs; Consistently growing student enrollment levels; Adequate financial position, which has improved after a large drawdown in fiscal 2002, that is bolstered by the board's ability to autonomously adjust tuition levels; and Rapid debt amortization schedule. The college's potentially significant capital needs, stemming from rapid enrollment growth, mitigate the strengths; but management expects enrollment increases to return to prerecessionary levels as the...

Companies mentioned in this report are:
- Kirkwood Comnty Coll

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Kirkwood Comnty Coll

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