Summary: Southwestern Community College District, California; General Obligation May 11
- ID: 1802764
- May 2011
- Region: California
- Standard & Poors
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
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >