Standard & Poor's Ratings Services affirmed its 'BBB-' long-term rating on the Indiana Finance Authority's series 2009A and 2009B educational facilities revenue bonds, issued for Irvington Community School Inc. The outlook is stable. The rating reflects our assessment of the school's: Consistent financial and credit profile year over year; and Test scores that compare favorably to local and state levels. Partly offsetting the above strengths is our view of: The risk that most charter schools face of nonrenewal of their charters, which must be renewed multiple times before final bond maturity; and A financial profile that, although stable, provides limited financial flexibility. Irvington recently entered into a new charter contract and relationship with the Mayor of Indianapolis as its charter...
Companies mentioned in this report are: Irvington Comnty Sch Inc,Indiana Fin Auth
Action: Outlook: Stable
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