Summary: Gainesville City School District, Georgia; School State Program Sep 11

Standard & Poors, September 2011

Abstract
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
Action: Upgraded

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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.

Gainesville City Sch Dist

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