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Summary: Twin Valley School District, Pennsylvania; School State Program May 11 Product Image

Summary: Twin Valley School District, Pennsylvania; School State Program May 11

  • ID: 1807745
  • May 2011
  • Region: Pennsylvania
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has lowered its school issuer credit rating (ICR) on Twin Valley School District, Pa.'s general obligation bonds to 'BBB' from 'A-', reflecting the district's: History of structural imbalances that contributed to the deterioration of its financial position, resulting in negative fund balance levels; Predominantly rural local economy; and Elevated debt service carrying charges. Offsetting the above weaknesses are: The district's good income levels, coupled with its access to the Reading and Philadelphia metropolitan statistical areas (MSA); Diverse tax base with strong wealth levels; and Moderate debt burden with limited capital needs. The district has posted five consecutive general fund net operating deficits over the past five years. Between fiscals 2007 and 2009, these operating deficits...

Companies mentioned in this report are: Twin Vy Sch Dist
Action: Affirmed
Action: Downgraded
Action: Outlook: Stable

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