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Summary: California Community College Financing Authority West Valley-Mission Communtity College District; Appropriations; General Obligation Apr 09 Product Image

Summary: California Community College Financing Authority West Valley-Mission Communtity College District; Appropriations; General Obligation Apr 09

  • ID: 1717877
  • April 2009
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to the California Community College Financing Authority's lease revenue bonds series 2008B, issued on behalf of the West Valley-Mission Community College District. In addition, Standard & Poor's affirmed its 'AA' underlying rating (SPUR) on the district's general obligation (GO) bonds outstanding. The 'AA-' long-term rating reflects our view of the district's: Appropriation risk associated with appropriation-backed obligations, resulting in the lease revenue bonds being rated one notch off of the GO rating; and General creditworthiness. The bonds are limited obligations of the authority, payable solely from authority revenues, consisting primarily of the lease payments made by the district to the authority. West Valley-Mission Community College District has...

Companies mentioned in this report are:
- West Valley-Mission Comnty Coll Dist
- California Comnty Coll Fincg Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- West Valley-Mission Comnty Coll Dist
- California Comnty Coll Fincg Auth

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