• SELECT SITE CURRENCY
Select a currency for use throughout the site
Oregon School Boards Assn.'s Series 2011A COPs Assigned 'SP-1+' Rating May 11
Standard & Poors, May 2011
SAN FRANCISCO (Standard & Poor's) May 5, 2011--Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to the Oregon School Boards Assn.'s $8.1 million series 2011A certificates of participation (COPs). The COPs represent undivided, proportionate ownership interests in tax and revenue anticipation promissory notes issued by six participants, as well as principal and interest payments. Each district has pledged property taxes levied by and collected within its boundaries, subject to constitutional restrictions; its full faith and credit; and all legally available general fund revenues for repayment. "The series 2011A rating reflects our opinion of the underlying notes' weakest credit profile, which is 'SP-1+', because no district is responsible for another's repayment," said Standard & Poor's credit analyst Chris Morgan....
Companies mentioned in this report are: Oregon Sch Brds Assn
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Oregon Sch Brds Assn