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Carlsbad Unified Sch Dist, CA Debt Rating, SPUR Raised To 'AA'; Strong Financial Operations, Robust Economic Base Cited Apr 09
Standard & Poors, April 2009
Abstract
SAN FRANCISCO (Standard & Poor's) April 29, 2009--Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA' from 'AA-' on Carlsbad Unified School District, Calif.'s outstanding debt. Standard & Poor's also assigned its 'AA' rating to the district's $80 million series 2009B general obligation (GO) bonds. The outlook is stable. 'The raised ratings reflect our view of the district's ongoing strong financial operations, which are supplemented by surplus property tax revenues due to its newly earned basic-aid status, and its increasingly robust and affluent economic base,' said Standard & Poor's credit analyst Paul Dyson. In our opinion, the district's financial performance has been good in recent years, and the district has maintained solid fund balance levels....
Companies mentioned in this report are: Carlsbad Unif Sch Dist
Action: New Rating
Action: Upgraded
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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