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Franklin-McKinley School District, CA's GO SPUR Raised To 'A+' Jun 08 Product Image

Franklin-McKinley School District, CA's GO SPUR Raised To 'A+' Jun 08

  • Published: June 2008
  • Standard & Poors

Abstract
SAN FRANCISCO (Standard & Poor's) June 17, 2008--Standard & Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on Franklin-McKinley School District, Calif.'s outstanding general obligation (GO) bonds, and raised its SPUR to 'A' from 'A-' on the district's outstanding certificates of participation (COPs). In addition, Standard & Poor's assigned its 'A+' rating to the district's $7.365 million series 2008 GO refunding bonds. The outlook is stable. "The raised rating reflects the district's continued strong tax base growth and good fund balances after three challenging years marked by budget cuts and deficits," said Standard & Poor's credit analyst Paul Dyson. "The district's tax base has also expanded in recent years, with assessed value that has increased at...

Companies mentioned in this report are:
- Franklin-McKinley Sch Dist

Action: New Rating
Action: Upgraded

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- Franklin-McKinley Sch Dist

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