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St Vrain Valley School District RE-1J, CO Fiscal Recovery Plan Backs Two-Notch Upgrade To 'A-' Mar 06 Product Image

St Vrain Valley School District RE-1J, CO Fiscal Recovery Plan Backs Two-Notch Upgrade To 'A-' Mar 06

  • ID: 2051924
  • March 2006
  • Standard & Poors

Abstract
DALLAS (Standard & Poor's) March 10, 2006-- Standard & Poor's Ratings Services raised its issuer credit rating on St. Vrain Valley School District No. RE-1J, Colo.'s GO debt two notches to 'A-' from 'BBB' based on management's successful implementation of a financial recovery plan, which has resulted in a positive operating performance that eliminated a $13.8 million operating deficit, or about 12% of its budget, as well as the district's improving general fund equity and liquidity position with a nearly $4.0 million positive general fund balance, or 3.3% of expenditures, in fiscal 2005 compared with a nearly negative $14.0 million in fiscal 2003. The outlook is now stable. In addition, fiscal 2005 operating results were significantly better than those indicated...

Companies mentioned in this report are: St Vrain Vy Sch Dist #RE-1J
Action: Outlook: Stable
Action: Upgraded

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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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