Summary: Allentown School District, Pennsylvania; School State Program Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'A' long-term rating and 'A' school issuer credit rating (ICR) to Allentown School District, Pa.'s series 2012 general obligation (GO) refunding bonds and affirmed its 'A' long-term rating and 'A' school ICR on the district's existing GO debt. The outlook on the long-term rating is stable while the outlook on the school ICR is negative. The long-term rating reflects the district's eligibility for and participation in the Pennsylvania State Aid Intercept Program. The school ICR reflects our opinion of the district's: Structural imbalance in fiscals 2011 and 2012 leading to use of reserves to fund operations and the potential for continued revenue pressure; Maintenance of good reserve levels despite the drawdowns; Moderate-to-high...

Companies mentioned in this report are: Allentown Sch Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Allentown Sch Dist

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