Summary: California School Cash Reserve Program Authority Franklin-McKinley School District; Note Feb 12
- Language: English
- Published: February 2012
- Region: California
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Franklin-McKinley School District, Calif.'s election of 2010 series A general obligation (GO) bonds and series A-1 GO bonds. In addition, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the district's outstanding GO bonds, and its 'A' rating and SPUR on the district's series 2002B certificates of participation COPs). The ratings reflect our view of the district's: Economic base in San Jose, which is part of the robust Silicon Valley region; Growing average daily attendance (ADA), which drives operating revenues under the state funding framework; and Good financial policies and practices. Partially offsetting these strengths in our view, is low general fund liquidity, with the...
Companies mentioned in this report are:
- Franklin-McKinley Sch Dist
Action: New Rating
Action: Outlook: Stable
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