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Texas Public Finance Authority Charter School Finance Corp. KIPP, Inc.; Charter Schools Aug 09
Standard & Poors, August 2009
Standard & Poor's Ratings Services has affirmed the 'BBB-' rating on Texas Public Finance Authority Charter School Finance Corp.'s education revenue bonds, issued for KIPP, Inc. The outlook is positive, reflecting the potential for the rating to be raised should enrollment growth and financial performance continue to be strong, provided additional debt plans do not put significant stress on the organization's financial position. The rating reflects our view of the inherent weaknesses related to charter schools, including: The risk of charter revocation or nonrenewal, and The need for continued demand for school services. In our opinion, sufficiently offsetting these weaknesses are KIPP's: Historically high demand levels, Good financial and operating performance, and Positive academic results. The large, multiyear, multifacility expansion...
Companies mentioned in this report are: Kipp, Inc.,Texas Pub Fin Auth Charter Sch Fin Corp
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