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Summary: Brazosport College District, Texas; Junior/Community College Oct 11 Product Image

Summary: Brazosport College District, Texas; Junior/Community College Oct 11

  • Published: October 2011
  • Standard & Poors

Abstract
Standard & Poor's Rating Services affirmed its 'BBB+' underlying rating (SPUR) on Brazosport College District, Texas' combined fee revenue bonds. The rating reflects our view of the district's: History of balanced operations on a cash basis, but negative on a full accrual basis; A concentration of tuition revenue from non-credit corporate training students (primarily from two companies), whose contracts can be highly cyclical in nature, and which comprise a significant percentage, 23.2%, of tuition revenue (which is pledged to revenue-bond debt service); and A concentrated tax and employment base in the petrochemical industry and in a single company. The rating is still supported by our view of the district's: Solid revenue diversity, with 29.2% of 2010 revenues from property taxes,...

Companies mentioned in this report are: Brazosport Coll Dist,Texas,Brazoria Cnty,The Dow Chemical Co.
Action: Affirmed

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Brazosport Coll Dist,Texas,Brazoria Cnty,The Dow Chemical Co.

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