Summary: Central Valley Support Services Joint Powers Agency, California, Fresno Unified School District; Appropriations; General Obligation Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Central Valley Support Services Joint Powers Agency, Calif.'s series 2011 general obligation (GO) revenue bonds (taxable direct-pay qualified school construction bonds or QSCBs) issued on behalf of Fresno Unified School District. In addition, Standard & Poor's affirmed its 'A+' underlying rating (SPUR) on the district's, Calif.'s outstanding GO bonds and its 'A' SPUR on the district's outstanding certificates of participation (COPs). The outlook on all ratings is stable. The ratings reflect our opinion of the district's: Agriculturally-based local economy, situated in Fresno County that also serves as a trade center for a broad region; Sizeable tax base resulting in a moderate debt burden as a percent of assessed value...

Companies mentioned in this report are: Fresno Unif Sch Dist,Central Vy Support Svcs Jt Pwrs Agy
Action: Affirmed
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.

Fresno Unif Sch Dist,Central Vy Support Svcs Jt Pwrs Agy

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