Texas Public Finance Authority Charter School Finance Corp., Texas La Vernia Higher Education Finance Corp. KIPP Inc.; Charter Schools Oct 09
- ID: 2031415
- October 2009
- Region: Texas
- Standard & Poors
Standard & Poor's Ratings Services raised its long-term and underlying rating (SPUR) to 'BBB' from 'BBB-' on Texas Public Finance Authority Charter School Finance Corp.'s series 2006A education revenue bonds, issued for KIPP Inc. The outlook is stable. At the same time, Standard & Poor's assigned its 'BBB' rating and stable outlook to La Vernia Higher Education Finance Corporation's series 2009A and 2009B education revenue bonds, issued for KIPP Inc. The rating reflects what we see as inherent weaknesses related to charter schools, including: The risk of charter revocation or nonrenewal; and The need for continued student demand for school services. Sufficiently offsetting these weaknesses in our opinion are KIPP's: Historically high demand levels; Good financial and operating performance; Positive...
Companies mentioned in this report are:
- Kipp, Inc.
- Texas Pub Fin Auth Charter Sch Fin Corp
- La Vernia Higher Ed Fin Corp.
Action: New Rating
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Research Type: Full Analysis