Standard & Poor's Ratings Services assigned its 'BBB+' rating to Irvine Unified School District Community Facilities District (CFD) no. 09-1, Calif.'s series 2011 subordinate taxable Qualified School Construction Bonds (QSCB) special tax revenue bonds issued on behalf of Irvine Unified School District CFD No. 86-1. At the same time, Standard & Poor's affirmed its 'A' rating on CFD No. 86-1's outstanding senior series 2009 bonds. The outlook on all ratings is stable. The ratings reflect our view of the districts': Residential and commercial demographics in a high-income area of northern Orange County, with access to the Los Angeles area employment base; Good, 1.76x maximum annual debt service (MADS) coverage of senior and subordinate debt; Large and stable special tax base,...
Companies mentioned in this report are: Irvine Unif Sch Dist Comnty Facs Dist #86-1,Irvine Unif Sch Dist Comnty Facs Dist #09-1
Action: New Rating
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