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California Community College Financing Authority; Note
Standard & Poors, April 2011
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) series 2011D tax and revenue anticipation note (TRAN) pool note participations. The rating reflects our view of: A note structure that requires a set-aside of note principal and interest by each district on Aug. 1, 2011, and Nov 1, 2011, and Good coverage by each participating district of note principal and interest, both at the set-aside dates and the April 30, 2012, maturity. The CCCFA's series 2011D TRAN pool notes have an interest in the 2010-2011 TRANs issued by five California community college districts. Each participant's obligation is standalone, and no district has any obligation to make repayments for any other district....
Companies mentioned in this report are: California Comnty Coll Fincg Auth,Cabrillo Comnty Coll Dist,Palo Verde Comnty Coll Dist,Merced Comnty Coll Dist,San Luis Obispo Cnty Comnty Coll Dist
Action: New Rating
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