- Language: English
- Published: June 2013
- Region: California
Summary: Ceres Unified School District, California; Note Aug 11
- ID: 1857026
- August 2011
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Ceres Unified School District, Calif.'s tax and revenue anticipation notes (TRANs) series 2011-12. The rating reflects our opinion of: A note structure that includes early set-asides of TRANs repayment amounts; Good debt service coverage by an unrestricted general fund cash balance at maturity of 2.24x; and The district's good overall financial position. The notes are secured by a first lien on taxes, revenues, and other unrestricted money received by the district for its general fund that are attributable to fiscal 2012 and legally available for payments. The district has agreed to set aside amounts equal to 40% of principal in February 2012, with the remaining 60% of principal in...
Companies mentioned in this report are: Ceres Unif 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 the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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.
SHOW LESS READ MORE >
Ceres Unif Sch Dist