Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Southwestern Community College District, Calif.'s general obligation (GO) bonds, election 2008, series C. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying (SPUR) ratings on the district's outstanding GO bonds. The outlook is stable. The rating reflects our opinion of the district's: Participation in the deep and diverse San Diego economic base; A large expansive tax base that has increased by 21% since fiscal 2006 despite recent declines; Strong financial performance, with a fiscal 2010 ending fund balance of $14.0 million, or 15% of expenditures; Operational flexibility provided by the ability to reduce class sections and curriculum if required (an operational feature not shared by...
Companies mentioned in this report are:
- Southwestern Comnty Coll Dist
Action: New Rating
Action: Outlook: Stable
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