La Vernia Higher Education Finance Corp., Texas Winfree Academy Charter Schools; Charter Schools May 11
- Language: English
- Published: May 2011
- Region: Texas
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
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: Full Analysis
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Kipp, Inc.,Texas Pub Fin Auth Charter Sch Fin Corp,La Vernia Higher Ed Fin Corp.