Summary: Ottawa Catholic School Board

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.

Abstract
The ratings on Ottawa Catholic School Board (OCSB) reflect Standard & Poor's Ratings Services' assessment of the board's debt servicing that provincial capital grants cover fully, a very high level of provincial support and oversight, and strict regulation precluding redirection of capital grants for operations. The rating on the Province of Ontario (AA-/Stable/A-1+), the board's sole source of funding for debt servicing, constrains the ratings. Standard & Poor's believes the level of provincial support and oversight has increased in the wake of capital funding changes from the past few years, in which Ontario is assuming a more central role in school board funding decision-making and introducing increased regulations. Provincial school boards have moved toward a more centralized funding process compared...

Companies mentioned in this report are: Ottawa Catholic School Board
Action: Review

Ottawa Catholic School Board

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