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Orangeburg County Consolidated School District No. 5, S.C. Issuer Credit Rating On GO Bonds Raised To 'A' Aug 10
Standard & Poors, August 2010
BOSTON (Standard & Poor's) Aug. 3, 2010--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. The outlook is stable. At the same time, Standard & Poor's assigned its 'AA' enhanced rating and 'A' ICR to the district's $9.115 million 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. Factors constraining the rating are the district's: High unemployment rate, and Merely adequate wealth and income levels. "We expect that district officials will continue to...
Companies mentioned in this report are: Orangeburg Cnty Cons Sch Dist #5
Action: New Rating
Action: Outlook: Stable
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Research type: News
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Orangeburg Cnty Cons Sch Dist #5