Summary: Northwest Local School District (Stark, Summit & Wayne Counties), Ohio; School State Program Dec 11
- ID: 2033271
- December 2011
- Region: Ohio
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A' school issuer credit rating (ICR) and 'AA' program rating to Northwest Local School District (Stark, Summit & Wayne Counties), Ohio's series 2012 unlimited-tax general obligation (GO) refunding bonds. We also affirmed the 'A' school ICR and 'AA' program rating on the district's previously issued bonds. The enhanced rating reflects our view of the district's eligibility for, and participation in, the Ohio credit enhancement program. The program provides school bonds with added security from a state aid withholding mechanism that has strong statutory provisions. Upon state approval, the agreement between the state and local school district for participation in the program is irrevocable, as long as any program debt is outstanding. The...
Companies mentioned in this report are: Northwest Local Sch Dist (Stark, Summit & Wayne Cntys)
Action: New Rating
Action: Outlook: Stable
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