- Published: May 2012
- Region: United States
Summary: Glendale Unified School District, California; General Obligation Nov 09
- Published: November 2009
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services raised its underlying rating (SPUR) on Glendale Unified School District, Calif.'s general obligation (GO) debt to 'AA' from 'AA-' and assigned its 'AA' long-term rating to the district's series 2009 GO refunding bonds. The upgrade reflects our view of the district's very strong available reserves despite revenue pressure. The outlook is stable. Additional rating factors include our view of the district's: Diverse economic base; Low debt burden and limited additional capital needs; and Dependence on state funding combined with persistent declines in average daily attendance (ADA), which drives the state funding formula. Unlimited ad valorem taxes levied on taxable property within the district secure the GO bonds. The county's board of supervisors has the power...
Companies mentioned in this report are: Glendale Unif Sch Dist
Action: New Rating
Action: Outlook: Stable
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Glendale Unif Sch Dist