Summary: California Community College Financing Authority; Appropriations
- ID: 1718003
- September 2010
- Region: California
- Standard & Poors
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Standard & Poor's Ratings Services assigned its 'A+' rating to California Community College Financing Authority's series 2010B $8.25 million lease revenue refunding bonds. The rating reflects our view of the security provided by lease rental payments made by three community college districts: Miracosta Community College District, Palomar Community College District, and Southwestern Community College District. Each district is responsible for meeting its own obligations under its particular lease agreement and, as such, each district will not be responsible for the other districts' payments or need to make up for any deficiency in the lease payments of another district. Given this security structure, pursuant to our criteria, we assign to the authority's bonds the lowest rating of the three districts. We...
Companies mentioned in this report are: California Comnty Coll Fincg Auth
Action: New Rating
Action: Outlook: Stable
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