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California Community College Finance Authority, TRANs Rated 'SP-1+'
Standard & Poors, May 1999
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's CreditWire) May 28, 1999 - Standard & Poor's today assigned its 'SP-1'-plus rating to California Community College Finance Authority's $111.84 million TRANs series A due June 30, 2000; $36.03 million TRANs series B due July 28, 2000; and $64.96 million TRANs series C due Sept. 29, 2000. The notes are scheduled to sell June 2, 1999. The rating reflects overcollateralization of the TRAN bonds' par amount at approximately 9% to address the possibility of debt service deficiencies in the 36 participating community college districts. The districts will issue TRANs to be purchased by the authority with proceeds of the series 1999 series A, B and C TRAN bonds. Historical and projected financial and liquidity information...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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