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Texas Public Finance Authority Charter School Finance Corp. Series 2010 Bonds Rated 'BBB' Nov 09 Product Image

Texas Public Finance Authority Charter School Finance Corp. Series 2010 Bonds Rated 'BBB' Nov 09

  • ID: 2031647
  • November 2009
  • Region: Texas
  • Standard & Poors

Abstract
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

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Nova Academy,Texas Pub Fin Auth Charter Sch Fin Corp

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