Summary: Fremont Unified School District, California; General Obligation Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Fremont Unified School District, Calif.'s series 2012 general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying rating (SPUR) on the district's GO bonds outstanding. The outlook on all bonds is stable. The ratings reflect our view of the district's: Affluent and large residential community, which participates in the broad and diverse San Francisco Bay Area and Silicon Valley economy; Strong fund balances; Good financial management policies; and Low-to-moderate debt levels. We believe the constrained state funding environment and subsequent fund balance drawdown in fiscal 2010 partially offset the foregoing strengths. Revenues from unlimited ad valorem taxes levied on taxable property...

Companies mentioned in this report are:
- Fremont Unif 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.

- Fremont Unif Sch Dist

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