Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Jesup Community School District, Iowa's series 2012 general obligation (GO) school refunding bonds. The outlook is stable. The rating reflects our view of the district's: Participation in the Waterloo-Cedar Falls area economy and access to the Cedar Rapids metropolitan area; Good income levels and strong market value per capita; Increasing enrollment, with continued growth projected; and Low overall debt burden coupled with rapid amortization. The preceding credit strengths are offset in part, in our view, by the district's thin reserves on a nominal basis, albeit good as a percentage of expenditures, and a trend of depleting reserves. The district's unlimited-tax GO pledge secures the bonds. The district will...
Companies mentioned in this report are:
- Jesup Comnty Sch Dist
Action: New Rating
Action: Outlook: Stable
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.
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. SHOW LESS READ MORE >