• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Palmdale School District Community Facilities District 90-1, CA's Special Tax Bonds Rated 'BBB' Jun 11 Product Image

Palmdale School District Community Facilities District 90-1, CA's Special Tax Bonds Rated 'BBB' Jun 11

  • Published: June 2011
  • Standard & Poors

Abstract
SAN FRANCISCO (Standard & Poor's) June 15, 2011-- Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to the Palmdale School District Community Facilities District 90-1, Calif's series 2011A Qualified School Construction Bonds (QSCB), and series 2011B taxable and series 2011C tax-exempt special tax bonds issued for Palmdale School District. The outlook is stable. The rating reflects our view of the district's: Moderately low direct and overlapping assessed value (AV) to lien ratio of 14.7 to 1; AV declines for the past two consecutive years, despite the district's growth in taxable parcels. Large historical levels of special tax delinquencies; and Debt service reserve funded with surety bonds. Our view of these credit weaknesses is partially strengthened by our view...

Companies mentioned in this report are: Palmdale Sch Dist Comnty Fac Dist 90-1,Palmdale Sch Dist
Action: New Rating

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 READ MORE >

Palmdale Sch Dist Comnty Fac Dist 90-1,Palmdale Sch Dist

Note: Product cover images may vary from those shown

RELATED PRODUCTS