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California Community College Financing Authority; Note
Standard & Poors, Aug 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 California Community College Financing Authority's (CCCFA) series 2010-2011 tax and revenue anticipation notes (TRANs) series C based on our assessment of the note coverage provided by the ending general fund cash of each of the pool participants. Standard & Poor's also updated its rating rationale to reflect the final participants in the CCCFA's series 2010-2011 TRANs series A. In addition, Marin community college district's (CCD) note par amount changed to $9.2 million from $9.5 million; there was no change in noted coverage levels. All districts with series A notes rated 'SP-1+' have provided Standard & Poor's with cash flows that show coverage at maturity of between 1.19x and 3.50x....
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
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