[MLT] Summary: Orangeburg Joint Governmental Action Authority, South Carolina Orangeburg County; Sales Tax Feb 12
- Language: English
- Published: February 2012
- Region: South Carolina
Standard & Poor's Ratings Services has raised its issuer credit rating (ICR) on Orangeburg County Consolidated School District No. 5, S.C.'s general obligation (GO) bonds to 'A' from 'BBB+' based on the district's strong reserve position and low debt burden. Constraining factors are the district's: High unemployment rate, and Merely adequate wealth and income levels. At the same time, Standard & Poor's assigned its 'AA' enhanced rating and 'A' ICR to the district's series 2010 general obligation (GO) refunding bonds. The 'AA' enhanced rating is based on the security provided by the South Carolina State Aid Intercept Program. The district's full faith and credit pledge secures the bonds. The district will use series 2010 bond proceeds to refund certain maturities...
Companies mentioned in this report are: Orangeburg Cnty Cons Sch Dist #5
Action: New Rating
Action: Outlook: Stable
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Orangeburg Cnty Cons Sch Dist #5