|
|
 |
|
Viewing report
|
|
|
|
California Community College Financing Authority Series 2009A Pooled TRANs Assigned 'SP-1+' Short-Term Rating
Standard & Poors, June 2009
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) June 26, 2009--Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to California Community College Financing Authority's $113.545 million series 2009A pooled tax and revenue anticipation notes (TRANs) based on our assessment of the note coverage provided by the ending general fund cash of each of the 19 pool participants. 'The notes are secured by separate payments from 19 community college district pool participants to the trustee, Wells Fargo Bank, by the note maturity date,' said Standard & Poor's credit analyst Sussan Corson. Each pool participant separately pledges its payments to the trustee and the trustee will not apply payments by a pool participant toward the deficient payments of any other participant. The resolutions...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
|
|
|
|
