S&P Corrects Rating On Pomona Valley Educational Joint Powers Authority, CA's 2002 Revenue Bond To 'B' Nov 12
- Language: English
- Published: November 2012
Standard & Poor's Ratings Services assigned its 'A' rating, and stable outlook, to Pomona Unified School District, Calif.'s $15 million series C GO bonds. The rating reflects the district's: Participation in the greater Los Angeles MSA economy; Steady growth of a large, diverse property tax base; and Good historical financial performance. These strengths are offset by the district's: Below-average income and wealth levels and high unemployment; Recent declines in the general fund balance due to state aid reductions; and Moderate debt burden with below-average amortization. The district's unlimited ad valorem tax pledge secures the bonds. The 32-square-mile Pomona Unified School District, with an estimated population of 160,000, is in Los Angeles County, 30 miles east of Los Angeles, Calif. The...
Companies mentioned in this report are: Pomona Unif Sch Dist
Action: New Rating
Action: Outlook: Stable
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Pomona Unif Sch Dist