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Summary: Independence Community College, Kansas; General Obligation Equivalent Security Jun 11

  • ID: 2032331
  • June 2011
  • Region: Kansas
  • Standard & Poors


  • Independence Comnty Coll
  • MORE

Standard & Poor's Ratings Services assigned its 'A' rating to Independence Community College, Kan.'s series 2011 certificate of participation. The outlook is stable. Annual base rentals under the lease, which the college pledges to pay the trustee but which are not subject to annual renewal by the college, secure the series 2011 certificates. Per state statute, the annual lease payments are not subject to appropriation and constitute a binding obligation of the college; Independence Community College must use all system revenue at its disposal, including an unlimited ad valorem tax levy, to make lease payments, which must be used to pay debt service on the certificates. Furthermore, if a judgment is brought against the college per the terms of the...

Companies mentioned in this report are: Independence Comnty Coll
Action: Affirmed
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 READ MORE >

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Independence Comnty Coll

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