Ratings On IDEA Public Schools, TX Bonds Raised To 'BBB+' On Improved Liquidity And Good Coverage Oct 11
- Language: English
- Published: October 2011
DALLAS (Standard & Poor's) Dec. 15, 2011--Standard & Poor's Ratings Services assigned its 'BBB-' long-term rating to the Houston Higher Education Finance Corp., Texas' series 2012A education revenue bonds, series 2012B taxable education revenue bonds, and series 2012Q taxable school education revenue bonds (direct-pay qualified school construction bonds), issued for SER-Niños Inc. (SER-Niños Charter School). The outlook is stable. "The rating reflects our view of SER-Niños' competition from several nearby charter schools along with Houston Independent School District, the general credit risk that the charter might be revoked or not renewed, which is associated with all charter schools subject to charter renewal, and moderate reliance on growth to generate sufficient revenues to cover maximum annual debt service," said Standard &...
Companies mentioned in this report are:
- Ser-Ninos, Inc.
- Houston Hgr Ed Fin Corp
Action: New Rating
Action: Outlook: Stable
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Research type: News
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