San Jose-Evergreen Community College District, California; General Obligation Feb 08
- ID: 2046538
- February 2008
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' rating to San Jose-Evergreen Community College District, Calif.'s $98 million series 2008 GO bonds, and affirmed its 'AA-' long-term rating and 'AA-' underlying rating (SPUR) on the district's outstanding parity debt. The 'AA-' rating reflects the district's: Location in the heart of Silicon Valley with access to a broad and diverse area economy, anchored by a strong technology presence Strong assessed valuation (AV) growth of 37% over the past five years; Improved financial operations in 2006 and 2007 which have restored fund balances (unrestricted reserves accounted for 13% of expenditures in 2007); and A well-managed 10-year capital improvement plan although debt levels are above average on a per capita and market value...
Companies mentioned in this report are:
- San Jose-Evergreen Comnty Coll Dist
Action: New Rating
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Research Type: Full Analysis