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Allegheny County Industrial Development Authority, Pennsylvania Propel Charter Schools ? Montour; Charter Schools Sep 11
Standard & Poors, Sep 2011
Abstract
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
Action: Upgraded
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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