Summary: San Francisco Unified School District, California; Note Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to San Francisco Unified School District, Calif.'s series 2011 tax and revenue anticipation notes (TRANs). The rating reflects our view of the district's: Good projected debt service coverage of 1.33x at final maturity, which rises to a strong 1.93x when including alternative sources of liquidity; Early set-asides of TRANs repayment amounts; and Sources of operating revenues that are not dependent on state budgetary decisions. The notes are general obligations of the district, and are secured by legally available taxes, revenue, cash receipts, and other money that the district receives or accrues in fiscal 2012. The notes mature on June 29, 2012. Management projects that general fund receipts and disbursements will...

Companies mentioned in this report are: San Francisco Unif Sch Dist
Action: New Rating

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San Francisco Unif Sch Dist

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