Summary: Mobile Public Educational Building Authority, Alabama Mobile County Board Of School Commissioners; Appropriations; General Obligation Aug 11

Standard & Poors, August 2011

Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' underlying rating (SPUR) on Mobile County Board of School Commissioners, Ala.'s outstanding general obligation (GO) debt and its 'A+' SPUR on Mobile Public Educational Building Authority, Ala.'s outstanding lease revenue debt. The outlook on all ratings is stable. The rating reflects our view of the board's: Large tax base and diverse local economy, Strong wealth and good income levels, and Low overall net debt. Partially offsetting these strengths, in our view, are the board's extended amortization schedule and fluctuations in general fund reserves. A limited ad valorem tax imposed within county limits secure the GO bonds, and the lease revenue bonds are subject to annual lease renewal between the board and the...

Companies mentioned in this report are: Mobile Cnty Brd of Sch Commissioners,Mobile Pub Educl Bldg Auth
Action: Affirmed
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.

Mobile Cnty Brd of Sch Commissioners,Mobile Pub Educl Bldg Auth

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