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California Community College Finance Authority; General Obligation, Local Note
Standard & Poors, May 2000
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: Full Analysis
Abstract
The rating on California Community College Finance Authority's TRANs reflects the overcollateralization of the TRANs bonds' par amount at about 10% to address the possibility of debt service deficiencies in the 39 participating community college districts. The districts will issue TRANs to be purchased by the authority with proceeds of the series 2000A, series 2000B, and series 2000C TRANs 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 the TRANs debt service have been reviewed. In the event of a debt service deficiency, FSA Inc. ('AAA' financial strength rating) will provide a policy of about...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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