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Berkeley Unified School District, CA, GO Rating Raised To 'AA-'; Outlook Stable Apr 11
Standard & Poors, April 2011
Abstract
SAN FRANCISCO (Standard & Poor's) April 14, 2011--Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to 'AA-' from 'A+' on Berkeley Unified School District, Calif.'s general obligation (GO) debt. In addition, Standard & Poor's assigned its 'AA-' long-term rating to the district's election of 2010 series A (issued in 2011) direct-payment GO qualified school construction bonds (QSCBs) and election of 2010 series B (issued in 2011) GO bonds. The outlook on all ratings is stable. 'The rating action reflects our view of the district's maintenance of what we consider strong available reserves, a recent voter extension of a supplemental operating levy, and growth in average daily attendance,' said Standard & Poor's credit analyst Chris Morgan....
Companies mentioned in this report are: Berkeley Unif Sch Dist
Action: New Rating
Action: Outlook: Stable
Action: Upgraded
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.
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