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Summary: Ventura County, California; Note May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Ventura County, Calif.'s series 2011-12 tax and revenue anticipation notes (TRANs). The rating reflects our view of the county's: Good projected debt service coverage of 1.96x at maturity and additional borrowable liquidity in its risk management funds; Early set-asides of principal, starting six months prior to maturity; Record of good financial performance, reflecting a willingness to adjust budgets in response to revenue pressures; and History of accurate or conservative coverage projections. The TRANs are secured by taxes, income, revenues, cash receipts, and other unrestricted money that the county ('AA/Stable' appropriation rating) receives during fiscal 2012 in its family of funds, which consists of the general fund, medical center enterprise...
Companies mentioned in this report are: Ventura Cnty
Action: New Rating
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