Summary: Washoe County School District, Nevada; Appropriations; General Obligation Sep 10

Standard & Poors, September 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to Washoe County School District, Nev.'s $5.415 million series 2010E limited-tax general obligation (GO) school improvement bonds (taxable direct-pay qualified school construction bonds, or QSCBs) and $43.695 million series 2010F limited-tax GO refunding bonds. Standard & Poor's also affirmed its 'AA' rating and underlying rating (SPUR) on the district's previously issued GO limited-tax bonds and its 'AA-' SPUR on the district's previously issued appropriation-backed debt. The ratings reflect our view of the district's: Continued strong financial performance and good reserve levels despite funding pressures at the state level; Good financial policies, with a demonstrated track record of conservative budgeting; and Low overall debt burden. The ratings are partially offset, in our...

Companies mentioned in this report are: Washoe Cnty Sch Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

Washoe Cnty Sch Dist

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