Summary: Souderton Area School District, Pennsylvania; General Obligation Apr 09

Standard & Poors, April 2009

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Souderton Area School District, Pa.'s series 2009 general obligation (GO) bonds. The rating reflects the district's: Stable local economic base, highlighted by its high wealth, consistent property tax base growth, and participation in the greater Philadelphia regional employment base; Strong overall financial position, highlighted by its strong unreserved levels, strong history of tax collections, and strong cash balance in the capital reserve fund; and Moderate debt burden with very limited additional capital needs. The district's full faith and credit pledge secures the bonds; and the bonds are payable from tax and other general revenues, which include, but are not limited to, ad valorem taxes levied on all...

Companies mentioned in this report are: Souderton Area Sch Dist
Action: New Rating
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.

Souderton Area Sch Dist

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