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'A' Rating Assigned To Tulare-Porterville Schools Financing Authority, CA's Series 2011 COPs Aug 11
Standard & Poors, Aug 2011
Abstract
SAN FRANCISCO (Standard & Poor's) Aug. 24, 2011-- Standard & Poor's Ratings Services assigned its 'A' long-term rating to Tulare-Porterville Schools Financing Authority, Calif.'s series 2011 refunding certificates of participation (COPs) issued on behalf of Porterville Unified School District (unified district) and Tulare City School District (elementary district). The outlook is stable. 'The rating reflects our assessment of the lower of the credit profiles of the lease payments from the two districts, although we believe both districts are of equal credit quality,' said Standard & Poor's credit analyst Li Yang. We understand the proceeds will be used to refund the authority's outstanding series 2002 COPs. RELATED CRITERIA AND RESEARCH USPF Criteria: Appropriation-Backed Obligations, June 13, 2007...
Companies mentioned in this report are: Tulare City Sch Dist,Tulare-Porterville Schs Fin Auth,Porterville Unif Sch Dist
Action: New Rating
Action: Outlook: Stable
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.
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