NEW YORK (Standard & Poor's) June 2, 2005--Standard & Poor's Ratings Services assigned its 'A+' rating to Oregon School Boards Association's $459.78 million limited-tax pension obligations, series 2005A, based on an intercept agreement between the participating school and education service districts and the Oregon Department of Education. The rating reflects the security of state education revenues pledged for payment of debt service, a solid legal structure, and strong coverage of debt service by pledged revenues. The outlook is stable, reflecting the state's general obligation rating outlook. The Oregon School Boards Association is the sponsor of the limited-tax pension bond program for the districts. The series 2005A pension obligations are being issued to finance all or a portion of the estimated...
Companies mentioned in this report are: Oregon Sch Brds Assn
Action: New Rating
Action: Outlook: Stable
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