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Butler County General Authority, Pennsylvania South Park School District Aug 11
Standard & Poors, Aug 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A' issuer credit rating (ICR), with a stable outlook to Butler County General Authority, Pa.'s (South Park School District Project) variable-rate demand obligation bonds series 2011. At the same time, Standard & Poor's assigned its 'A' underlying rating (SPUR) to the bonds, reflecting their eligibility for, and participation in, the Pennsylvania State Aid Intercept Program. We believe the credit characteristics of the program are supported by the strength and availability of state aid to the intercept program participants. The ICR reflects our opinion of the following key credit characteristics: Strong income levels; Adequate wealth levels; and Good reserve levels. The strengths are offset by our opinion of: An unfavorable debt profile marked by...
Companies mentioned in this report are: South Park Sch Dist,Butler Cnty Gen Auth
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.
Research Type: Full Analysis
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