Summary: California Comnty Coll Fin Auth, CA; General Obligation, Local Note
- ID: 1716437
- August 1995
- Region: California
- Standard & Poors
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 credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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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