Texas Public Finance Authority Charter School Finance Corp. La Vernia Higher Education Finance Corp. KIPP Inc.; Charter Schools Mar 11
Standard & Poors, March 2011
Abstract
Standard & Poor's Ratings Services affirmed its 'BBB' rating on Texas Public Finance Authority Charter School Finance Corp.'s education revenue bonds, issued for KIPP Inc., based on our view of continued good demand for KIPP charter schools, demonstrated by historically high enrollment levels, and on what we believe to be healthy financial performance and improved liquidity after a recent grant. We also affirmed our 'BBB' rating on La Vernia Higher Education Finance Corp.'s education revenue bonds, issued for KIPP. 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. These weaknesses are offset, in our opinion, by KIPP's: Historically...
Companies mentioned in this report are: Kipp, Inc.,Texas Pub Fin Auth Charter Sch Fin Corp,La Vernia Higher Ed Fin Corp.
Action: Affirmed
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
Kipp, Inc.,Texas Pub Fin Auth Charter Sch Fin Corp,La Vernia Higher Ed Fin Corp.
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