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California Community College Financing Authority; Note
Standard & Poors, April 2010
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 the California Community College Financing Authority's (CCCFA) $9.8 million series 2010A tax and revenue anticipation note (TRAN) pool note participations. The rating reflects our view of: The general credit characteristics of the participating community college districts, ranging from 'A'/Stable' (general obligation, or GO, rating) to 'AA-/Stable' (GO rating); A note structure that requires a set-aside of note principal and interest by each district that is scheduled for Aug. 1, 2010; and Satisfactory coverage by each participating district of note principal and interest, both at the Aug. 1, 2010, set-aside date and the March 1, 2011, maturity. The CCCFA series 2010A TRAN pool notes have an interest in the 2009-10...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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