Allegheny County Industrial Development Authority, Pennsylvania Propel Charter Schools ? Montour; Charter Schools Sep 11
- ID: 2046577
- September 2011
- Region: Pennsylvania
- Standard & Poors
Standard & Poor's Ratings Services raised its rating to 'BBB-' from 'BB+' on Allegheny County Industrial Development Authority, Pa.'s series 2010A charter school revenue bonds, issued on behalf of School Facilities Development Inc. (SFD) for Propel Charter Schools - Montour (Propel Montour). Lease payments made by Propel Montour directly to a trustee secure the bonds. The outlook is stable. We based the 'BBB-' rating on our assessment of Propel Montour's successful charter renewal in April 2011 for a five-year term, while also maintaining positive operating results and strong debt service coverage (DSC) and liquidity, as well as achieving above-average academic performance for the region and good demand. The 'BBB-' rating reflects our opinion of: The inherent future risk associated with...
Companies mentioned in this report are: Propel Charter Schs - Montour,Allegheny Cnty Indl Dev Auth
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