Summary: Hazelwood School District, Missouri; Appropriations; School State Program Oct 11

Standard & Poors, October 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Hazelwood School District, Mo.'s series 2011 refunding certificates of participation (COPs), reflecting a pledge of semiannual lease rental payments, which are subject to annual appropriation pursuant to the lease agreement and trust indenture securing the COPs. The district has pledged to annually appropriate lease rental payments from any legally available funds before the conclusion of its fiscal year on June 30. A debt service reserve in excess of the maximum Sept. 1 lease payment offers security against budget approval delays. At the same time, Standard & Poor's affirmed its 'AA-' school issuer credit rating (ICR) on the district's existing general obligation (GO) debt. The school ICR reflects our...

Companies mentioned in this report are: Hazelwood Sch Dist
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.

Hazelwood Sch Dist

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