Summary: San Mateo Union High School District, California; Appropriations; General Obligation Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to San Mateo Union High School District, Calif.'s (election of 2006) series 2011A general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the district's GO bonds outstanding and its 'AA-' SPUR on the district's certificates of participation (COPs) outstanding. The outlook is stable. Unlimited ad valorem taxes levied on taxable property within the district secure the GO bonds. The San Mateo County board of supervisors has the power and obligation to levy these taxes at the district's request for the bonds' repayment. The county is required to deposit such taxes, when collected, into the bonds' debt service fund. The...

Companies mentioned in this report are:
- San Mateo Un High Sch Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

- San Mateo Un High Sch Dist

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