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Summary: Pacific Grove Unified School District, California; General Obligation Jan 10

  • ID: 2024738
  • January 2010
  • Region: California
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA' long-term rating to  Pacific Grove Unified School District (USD), Calif.'s series D (2006 election) general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the district's previously issued GO debt. The outlook is stable. The ratings reflect our view of the district's: Parcel tax and status as a "basic-aid" district, which provide substantially more operating revenue per pupil than districts subject to state aid formulas and stability in funding; Extremely strong wealth and very strong income levels; and Low overall net debt as a percent of market value. Unlimited ad valorem taxes levied on taxable property within the district secure the...

Companies mentioned in this report are:
- Pacific Grove Unif Sch Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Pacific Grove Unif Sch Dist

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