Summary: University City Sch Dist, MO; General Obligation, Schools Intercept/Withholding Apr 98

Standard & Poors, April 1998

Abstract
The rating reflects the direct deposit of portions of monthly state aid payments by the state to a bond trustee. State aid covers maximum annual program debt service at more than 2 times. The district has entered into an irrevocable direct deposit agreement with the state treasurer, department of elementary & secondary education, the health & educational facilities authority, and the deposit trustee. The direct deposit agreement provides that during each of the first 10 months in each bond year, one-tenth of debt service will be deposited with the deposit trustee. The direct deposit trustee will invest these funds in investments that meet Standard & Poor's criteria and will transfer to the paying agent the amount necessary for debt service...

Companies mentioned in this report are:
- University City Sch Dist

Action: New Rating

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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.

- University City Sch Dist

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