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Bond Rating On Propel Charter Schools ? Montour, PA Raised To 'BBB-' On Positive Operating Trends Sep 11
Standard & Poors, Sep 2011
Abstract
NEW YORK (Standard & Poor's) Sept. 8, 2011--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). 'The upgrade reflects our assessment of Propel Montour's successful five-year charter renewal in April 2011, while maintaining positive operating results as well as strong debt service coverage and liquidity position,' said Standard & Poor's credit analyst Carolyn McLean. 'In addition, Propel Montour reported above-average academic performance for the region and good demand,' said Ms. McLean. Partially offsetting credit factors, in Standard & Poor's opinion, include: The inherent future risk associated with...
Companies mentioned in this report are: Propel Charter Schs - Montour,Allegheny Cnty Indl Dev Auth
Action: Downgraded
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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