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California Statewide Communities Development Authority; Higher Education, Independent Schools Nov 00
Standard & Poors, Nov 2000
Abstract
The rating on California Statewide Communities Development Authority's certificates, issued for the Crossroads School, reflects: Continued strong student demand, characterized by improved selectivity and solid matriculation rates in excess of 60%; Good student quality with stable retention rates; Crossroads' strong niche in the Los Angeles, Calif. independent school market; Improvement in liquidity and financial flexibility, due in part to successful fundraising; and A dedicated and professional management team. Although the balance sheet has improved over the last two years, expendable resources and endowment levels are still relatively low, which is characteristic of a 'BBB-' rated independent school. Proceeds from the series 1998 certificates of participation (COPs) were used to refund existing loans and to fund the construction of recreational facilities....
Companies mentioned in this report are: California Statewide Communities Dev Auth
Action: Affirmed
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.
Research Type: Full Analysis
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