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Souderton Area School District, PA Rating Outlook Revised To Negative On Weakened Financial Position Aug 11
Standard & Poors, August 2011
BOSTON (Standard & Poor's) Aug. 22, 2011--Standard & Poor's Ratings Services has revised the outlook on its school issuer credit rating (ICR) and long-term rating on Souderton Area School District, Pa.'s general obligation (GO) bonds to negative from stable because of its view of the district's weakened financial position due to drawdowns that, while partially planned, have decreased reserve levels. Standard & Poor's affirmed its 'AA' school ICR and long-term rating on the bonds. At the same time, Standard & Poor's assigned its 'AA' school ICR and long-term rating to the school district's $5.14 million series 2011 GO bonds. The outlook is negative. Factors supporting the current rating include: A stable local economic base coupled with participation in the greater...
Companies mentioned in this report are: Souderton Area Sch Dist
Action: New Rating
Action: Outlook: Negative
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Souderton Area Sch Dist