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Outlook On Salida Union School District COP Ratings Revised To Negative; 'A' SPUR Affirmed Feb 12
Standard & Poors, February 2012
SAN FRANCISCO (Standard & Poor's) Feb. 6, 2012--Standard & Poor's Ratings Services revised its rating outlook to negative from stable on Salida Union School District, Calif.'s certificates of participation (COP) and affirmed its underlying rating (SPUR) on the COPs at 'A'. "The outlook revision reflects our view of the district's susceptibility to significant general fund reserve drawdowns as evidenced by the district's fiscal 2011 qualified second interim report," said Standard & Poor's credit analyst Alda Mostofi. The SPUR reflects our view of the district's: General creditworthiness, and Lease provisions that include a covenant to budget and appropriate lease payments. RELATED CRITERIA AND RESEARCH USPF Criteria: GO Debt, Oct. 12, 2006 USPF Criteria: Appropriation-Backed Obligations, June 13, 2007...
Companies mentioned in this report are: Salida Un Sch Dist
Action: Outlook: Negative
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Salida Un Sch Dist