California Community College Financing Authority's Series 2011D TRAN Pool Note Participations Rated 'SP-1+'
- Language: English
- Published: April 2011
- Region: California
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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.
The rating on California Community College Financing Authority's bonds reflects the general fund obligations of the 16 issuing community college districts to repay their respective TRANs from taxes, income, revenue, cash receipts and other monies that are received by each district during fiscals 1995-1996. The obligation of each district is several, and not a joint obligation and is strictly limited to each district's repayment obligation under the separate note resolutions adopted by the districts. Standard & Poor's evaluated historical and projected financial and liquidity information provided for each issuer, including the strength of their general funds, and the availability of resources in other funds that could be temporarily borrowed to pay TRAN debt service. Standard & Poor's has determined that...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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California Comnty Coll Fincg Auth