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Allegheny County Industrial Development Authority, Pennsylvania Propel Charter Schools ? McKeesport; Charter Schools Sep 11
Standard & Poors, Sep 2011
Abstract
Standard & Poor's Ratings Services affirmed its 'BBB-' long-term rating on Allegheny County Industrial Development Authority, Pa.'s series 2010B charter school revenue bonds, issued on behalf of the School Facilities Development Inc. (SFD) for Propel Charter Schools - McKeesport (Propel McKeesport). Lease payments made by Propel McKeesport directly to a trustee secure the bonds. The outlook is stable. The rating reflects our opinion of: The inherent future risk associated with the possibility of the charter's nonrenewal or revocation given that the bond's final maturity exceeds the existing charter's time horizon; The lack of practical independence between the respective board members that hold the Propel McKeesport's charter and other Propel charter schools because each entity consists of the same individual board...
Companies mentioned in this report are: Propel Charter Schs - McKeesport,Allegheny Cnty Indl 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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