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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The rating on California Community College Finance Authority's TRAN bonds 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 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 TRAN debt service has been reviewed. In the event of a debt service deficiency, Financial Security Assurance Inc. (FSA, 'AAA' rated) will provide a policy of approximately...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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California Comnty Coll Fincg Auth