Standard & Poor's Ratings Services assigned its 'A' long-term rating to the Pittsburg Unified School District Financing Authority, Calif.'s series 2011 general obligation (GO) revenue bonds, issued on behalf of Pittsburg Unified School District. In addition, Standard & Poor's affirmed its 'A' long-term rating and underlying rating (SPUR) on the district's previously issued GO bonds and its 'A-' long-term rating and SPUR on the district's appropriation obligations. The outlook on all ratings is stable. The ratings reflect our opinion of the district's: Growing trend in average daily attendance (ADA), which drives the district's operating revenues; Recent addition of a parcel tax, which we believe somewhat offsets the challenging state funding environment; Good financial policies and practices; and Lack of capacity...
Companies mentioned in this report are: Pittsburg Unif Sch Dist,Pittsburg Unif Sch Dist Fincg Auth
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 >