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California Community College Finance Authority's 2002 TRANs Series A and B Rated 'SP-1+'
Standard & Poors, May 2002
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) May 29, 2002--Standard & Poor's said it assigned its 'SP-1'-plus short-term rating to California Community College Finance Authority's $216.10 million 2002 tax and revenue anticipation notes series A due June 30, 2003, and $35.26 million 2002 tax and revenue anticipation notes series B due July 31. The series A notes are scheduled to sell May 29, while the series B notes are scheduled to sell May 28. The rating reflects the over-collateralization of the tax and revenue anticipation notes par amount, at approximately 10%, to address the possibility of debt service deficiencies in the 42 participating community college districts. The districts will issue local tax and revenue anticipation notes to be purchased by the authority...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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