|
|
 |
|
Viewing report
|
|
|
|
California Municipal Finance Authority's Revenue Bonds Assigned 'BBB-' Rating Apr 09
Standard & Poors, April 2009
Abstract
SAN FRANCISCO (Standard & Poor's) April 8, 2009--Standard & Poor's Ratings Services assigned its 'BBB-' rating to the educational facilities revenue bonds issued by California Municipal Finance Authority on behalf of the King/Chavez Academy of Excellence (the corporation), a California nonprofit public benefit corporation. The outlook is stable. 'The rating is based on our view of the schools' mixed financial performance,' said Standard & Poor's credit analyst Shannon Groff. 'However, enrollment trends have been in our view solid, and the schools report a sufficient number of existing students to generate revenues to make debt service payments.' The schools, which have a combined audit, have what we consider a mixed financial performance. In fiscal 2008, the schools delivered a positive unreserved...
Companies mentioned in this report are: California Municipal Finance Authority
Action: New Rating
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
