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Summary: Kirkwood Community College, Iowa; General Obligation Sep 10 Product Image

Summary: Kirkwood Community College, Iowa; General Obligation Sep 10

  • Published: September 2010
  • Region: Iowa
  • Standard & Poors

Abstract
The 'AA-' long-term rating assigned to Kirkwood Community College, Iowa's refunding certificates of participation (COPs) reflects Standard and Poor's Rating Services' view of the college's: Large tax base that includes the Cedar Rapids, Iowa and Iowa City, Iowa metropolitan areas; Tuition-raising flexibility and the ability to cut budgets as needed; and Moderate debt burden. The college's reserve levels, although considered good, are thin for the rating level and are a limiting factor for the rating. The college will use the refunding COP proceeds to retire its taxable COPs issued in fall 2008 to construct a continuing education facility in Jones County to be used by certain participating local school districts. The college covenants in the lease to include in its...

Companies mentioned in this report are:
- Kirkwood Comnty Coll

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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the READ MORE >

- Kirkwood Comnty Coll

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