Standard & Poor's Ratings Services assigned its 'AA' rating and 'AA-' issuer credit rating (ICR), and stable outlook, to Richland County School District No. 2, S.C.'s series 2007A GO bonds. The 'AA' rating reflects the strength of the South Carolina State Aid Intercept program. The ICR reflects the district's: Access to the Columbia, S.C., MSA's diverse local economic base, coupled with direct access to the downtown area's large government and health care employers; Average wealth and income factors; Growing, primarily residential property tax base; Sound management, which has contributed to a favorable financial position with adequate reserves; and Moderate overall net debt burden. Expenditure pressures on capital and operations caused by rapid growth, which management is projecting to continue into...
Companies mentioned in this report are:
- Richland Cnty Sch Dist #2
Action: New Rating
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