DALLAS (Standard & Poor's) Nov. 23, 2009--Standard & Poor's Ratings Services has assigned its 'BBB' rating, with a stable outlook, to Texas Public Finance Authority Charter School Finance Corp., Texas' series 2010Q and 2010TE bonds, issued for Nova Academy. The series 2010Q bonds are being issued as qualified school construction bonds. These instruments provide a tax credit to investors in lieu of a regular interest coupon, thereby providing for a federal subsidy to the district for the cost of this debt. Standard & Poor's credit ratings do not address the tax credit component of this issue. "The rating reflects the general credit characteristics of Nova Academy, which include our view of the general risks associated with charter schools, such as...
Companies mentioned in this report are: Nova Academy,Texas Pub Fin Auth Charter Sch Fin Corp
Action: New Rating
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Research type: News
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