|
|
 |
|
Viewing report
|
|
|
|
California Community College Financing Authority; Note
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: Full Analysis
Abstract
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to California Community College Financing Authority's 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. 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 of each community college district (CCD) identify the pledged source of payment for each respective district's notes as the unrestricted taxes, income, revenue, cash receipts, and other monies attributable to the district's fiscal 2010 general fund. To the extent a pool participant...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
|
|
|
|
