Summary: Pomona Valley Educational Joint Powers Authority, California Pomona Unified School District; Guaranteed Invstmnt Contract/Invstmnt Agreement
- ID: 1755629
- February 2008
- Region: California
- Standard & Poors
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services placed its 'AAA' rating on Pomona Valley Educational Joint Powers Authority (Pomona Unified School District), Calif.'s lease revenue (Qualified Zone Academy Bonds) series 2002 on CreditWatch with negative implications. This action follows Standard & Poor's Jan. 31, 2008, placement of MBIA Insurance Corp. on CreditWatch with negative implications. The 'AAA' rating on Pomona Valley Educational Joint Powers Authority, Calif.'s bonds, issued for Pomona Unified School District, reflects the extremely strong credit quality and sufficiency of the principal investment to pay debt service on the bonds at maturity. The bonds are secured by a pledge of revenues derived from a single lease payment from the Pomona Unified School District and the investment income from a guaranteed...
Companies mentioned in this report are: Pomona Unif Sch Dist,Pomona Vy Educl Jt Pwrs Auth
Action: On CreditWatch:Negative
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