Summary: Umatilla County School District No. 5R (Echo), Oregon; School State Program Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' program rating and 'A' school issuer credit rating (ICR) and stable outlook to Umatilla County School District No. 5R (Echo), Ore.'s series 2013 general obligation (GO) refunding bonds and affirmed its 'AA+' program rating, with a stable outlook, on the district's existing GO debt. The 'AA+' program rating reflects the district's eligibility for, and participation in, the Oregon School Bond Guaranty Program; the program rating is equivalent to the state's GO debt rating. The GO bonds' underlying security, which is the basis for the school ICR, consists of a pledge of the district's full-faith credit and resources, as well as an agreement to levy ad valorem property taxes without limitation as to...

Companies mentioned in this report are: Umatilla Cnty Sch Dist #5R Echo
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Umatilla Cnty Sch Dist #5R Echo

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