Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Davis Joint Unified School District, Calif.'s tax and revenue anticipation notes (TRANs) series 2011-2012. As security for the payment of the principal of and interest on the notes, the district has pledged an amount equal to 50% of the principal amount of the notes from taxes, revenues, and other unrestricted funds received by the district in January 2012, and an amount equal to 50% of the principal amount of the notes, plus an amount sufficient to pay interest on the notes, from unrestricted funds received by the district in April 2012. The notes mature on May 1, 2012. The credit strengths of the TRANs include our opinion of: A...
Companies mentioned in this report are: Davis Jt Unif Sch Dist
Action: New Rating
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.