- Published: May 2012
- Region: United States
Summary: Virginia Pub Sch Auth; General Obligation, School District Aug 98
- Published: August 1998
- Region: Virginia
- Standard & Poors
The rating on Virginia Public School Authority's (VPSA) bonds is affirmed and reflects the city of Chesapeake's (rated 'AA') full faith and credit and taxing power pledge. The bonds are limited and special obligations of VPSA, issued by VPSA to purchase Chesapeake's local school bonds. VPSA's special obligation school bonds are secured by debt service payments on Chesapeake's local school bonds. The local school bonds are GOs of the city for which its full faith and credit and taxing power are irrevocably pledged. Chesapeake's 'AA' rating is based on: - Diverse and expanding economic base, - Steady tax base growth, and - Strong financial performance despite planned drawdowns. These credit strengths are offset by an increasingly high debt burden. Chesapeake...
Companies mentioned in this report are: Virginia Pub Sch Auth
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.
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.
SHOW LESS READ MORE >
Virginia Pub Sch Auth