• SELECT SITE CURRENCY
Select a currency for use throughout the site
California Community College Financing Authority's TRANs Assigned 'SP-1+' Rating
Standard & Poors, June 2006
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.
SAN FRANCISCO (Standard & Poor's) June 9, 2006--Standard & Poor's Ratings Services assigned its 'SP-1+' rating to California Community College Financing Authority's $75 million series 2006-2007 TRANs. The rating is based on the pledge of unrestricted fiscal 2006-2007 revenues by the individual community college districts under their TRAN resolutions. Each series is a several obligation, with no district having the obligation to make up any deficiency of another district. "The participants' general credit characteristics are strong," Standard & Poor's credit analyst Joon Kang said. "Coverage of note principal by projected ending cash balances at June 29, 2007, ranges from 1.02x to 3.60x. When including other available funds, the coverage ranges from 1.27x to 4.30x." The proceeds of the bonds will...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
California Comnty Coll Fincg Auth