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San Jose-Evergreen Community College District, California; General Obligation Feb 08 Product Image

San Jose-Evergreen Community College District, California; General Obligation Feb 08

  • ID: 2046538
  • February 2008
  • Region: California
  • Standard & Poors

Abstract
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

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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