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California Community College Financial Authority's TRANS Rated 'SP-1+'
Standard & Poors, May 2001
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 24, 2001--Standard & Poor's today assigned its 'SP-1'-plus rating to California Community College Finance Authority's $243 million TRANs due June 28, 2002. The rating reflects an overcollateralization of the TRANS' par amount at approximately 10% to address the possibility of debt service deficiencies in the 45 participating community college districts. The districts will issue TRANs to be purchased by the authority with proceeds of the series 2001 TRANs. 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...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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