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

Standard & Poors, November 2010

Abstract
The 'AA-' long-term rating assigned to Kirkwood Community College, Iowa's series 2010-1A taxable industrial new jobs training certificates and series 2010-1B industrial new jobs training certificates reflects Standard & 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 certificates will be paid from project revenues, which include withholding taxes derived from new and supplemental employment stemming from corporate training contracts, and are secured by the college's unlimited ad valorem tax pledge....

Companies mentioned in this report are:
- Kirkwood Comnty Coll

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

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Kirkwood Comnty Coll

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