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Summary: Gainesville City School District, Georgia; School State Program Sep 11
Standard & Poors, September 2011
Standard & Poor's Ratings Services raised to 'BBB+' from 'BBB' its school issuer credit rating (ICR) on Gainesville City School District, Ga.'s series 2006 general obligation (GO). The outlook is stable. At the same time, Standard & Poor's assigned its 'BBB+' ICR and 'AA+' enhanced rating to the district's series 2011 general obligation (GO) bonds. The upgrade is based on significant improvement in the district's financial performance and position. The 'AA+' enhanced rating reflects: The district's participation in Georgia's voluntary state aid intercept program; The additional security provided by the pledge of the 1% special-purpose local-option sales tax (SPLOST); and Additional bond resolution enhancements, including an additional bonds test of 2x state aid coverage of maximum annual debt service on...
Companies mentioned in this report are: Gainesville City 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.
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.
Gainesville City Sch Dist