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California Statewide Communities Development Authority Alliance for College-Ready Public Schools; Charter Schools Jan 12
Standard & Poors, Jan 2012
Abstract
Standard & Poor's Ratings Services assigned its 'BBB-' rating to the California Statewide Communities Development Authority's school revenue bonds, series 2012A, issued for Alliance for College-Ready Public Schools' 47th State and Main Project. The outlook is stable. The rating reflects our view of: The general risk that the school's charter could be revoked or not renewed, and The risk in relocating the school 2.5 miles into a different neighborhood; however the move is somewhat mitigated by the strong demand in the neighborhood. The rating is further supported by our view of: The school's low carrying charge (under 14%), The established and experienced management organization that operates the school, The school's good projected maximum annual debt service (MADS) coverage of 1.1x...
Companies mentioned in this report are: Alliance for Coll - Ready Pub Schs,California Statewide Communities Dev Auth
Action: New Rating
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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