- Language: English
- Published: August 2012
- Region: California
Summary: California Comnty Coll Fin Auth; General Obligation, Local Note
- ID: 1716441
- June 1998
- 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 Finance Authority's notes reflects overcollateralization of the TRANs par amount at approximately 10% to address the possibility of debt service deficiencies in the 28 participating community college districts. The authority will use the proceeds of the series 1998A, B and C TRANs to purchase tax and revenue anticipation notes issued by the community college districts. Standard & Poor's evaluated historical and projected financial and liquidity information provided by each issuer, including the strength of their general funds, and the availability of resources in other funds that could be temporarily borrowed to pay TRANs debt service. In the event of a debt service deficiency, Financial Security Assurance Inc. (FSA; rated 'AAA') will provide an insurance...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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