Summary: Pittsburg Unified School District Financing Authority, California Pittsburg Unified School District; Appropriations; General Obligation Jun 11
- ID: 1820201
- June 2011
- Region: California
- Standard & Poors
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
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