Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Central New Mexico Community College, N.M.'s series 2011 general obligation (GO) bonds. Standard & Poor's also affirmed its 'AA+' long-term and underlying rating (SPUR) on the college's outstanding GO debt. The outlook on all ratings is stable. The ratings reflect our view of the college's: Participation in the Albuquerque metropolitan statistical area's (MSA) broad and diverse tax base; Positive enrollment trends, which help drive college revenues; Good finance performance in recent years, as evidenced by strong reserve levels; and Low-to moderate overall net debt burden. In our opinion, offsetting credit factors include recent declines in total assessed valuation (AV) and decreases in state funding in recent years. The series...
Companies mentioned in this report are:
- Central New Mexico Comnty Coll
Action: New Rating
Action: Outlook: Stable
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