Summary: Orangeburg County Consolidated School District No. 5, South Carolina; School State Program Aug 10
- ID: 1817469
- August 2010
- Region: South Carolina
- Standard & Poors
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
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 >