Summary: Richland Cnty Sch Dist #1, SC; Tax Secured, School State Program Sep 03

Standard & Poors, September 2003

Abstract
Standard & Poor's Ratings Services revised its outlook on Richland County School District No. 1, S.C.'s GO debt outstanding to positive from stable based on the expectation that the area economy will continue to grow and diversify. The outlook revision also reflects management's continued ability to effectively handle state aid reductions and manage the increasing debt levels from this bond referendum without significantly drawing down the district's currently healthy reserve levels. At the same time, Standard & Poor's also assigned its 'AA+' enhanced rating and 'A+' Standard & Poor's underlying rating (SPUR) to the district's $293 million series 2003 GO bonds. The enhanced rating reflects the strength of the South Carolina State Credit Enhancement Program. The 'A+' SPUR reflects the...

Companies mentioned in this report are:
- Richland Cnty Sch Dist #1

Action: New Rating

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.

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.

- Richland Cnty Sch Dist #1

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