|
|
 |
|
Viewing report
|
|
|
|
California Community College Financing Authority's 2005 TRANs Assigned 'SP-1+' Rating
Standard & Poors, June 2005
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
SAN FRANCISCO (Standard & Poor's) June 3, 2005--Standard & Poor's Ratings Services assigned its 'SP-1+' rating to the California Community College Financing Authority's series 2005 tax and revenue anticipation notes (TRANs), based on the pledge of unrestricted fiscal 2006 revenues by the individual community college districts under their TRAN resolutions. 'Based on historical and projected financial and liquidity information, coverage of note principal by projected ending cash balances at June 30, 2006, ranges from 1.01x to 3.12x,' said Standard & Poor's credit analyst Rob Williams. 'Including other available funds, coverage ranges from 1.26x to 3.73x,' he added. The proceeds of the bonds will be used to purchase the notes, and all rights, titles, and interests in the notes will be...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
|
|
|
|
