• SELECT SITE CURRENCY
Select a currency for use throughout the site
Galveston Community College District, Texas; Junior/Community College
Standard & Poors, May 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
Standard & Poor's Ratings Services revised its rating outlook to positive from stable on Galveston Community College District (GCCD), Texas' series 2004 combined-fee revenue and refunding bonds and affirmed its 'BBB' underlying rating (SPUR) on the bonds. The positive outlook reflects our view of the district's growth in full-time equivalent (FTE) enrollment, as well as consistently positive operating surpluses on a full-accrual basis despite multiple challenges in recent years, including the impact of Hurricane Ike, which struck Galveston in 2008, cuts in state operating appropriations, and declines in district taxable assessed valuation (AV). The 'BBB' rating reflects our view of the district's: Historically positive financial operations on a full accrual basis; Good revenue diversity, with property tax collections accounting for...
Companies mentioned in this report are: Galveston Comnty College Dist
Action: Outlook Revised
Galveston Comnty College Dist