Summary: St. Louis County Special School District, Missouri; Appropriations; General Obligation Nov 13
- Language: English
- Published: November 2013
- Region: Missouri
Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to Joplin, Mo.'s series 2012 refunding certificates of participation (COPs) and affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the city's outstanding series 2003 COPs. The outlook is stable. The 'AA-' rating on the refunding COPs reflects a pledge of semiannual lease rental payments, which are subject to annual appropriation pursuant to the lease agreement and trust indenture securing the refunding COPs. The city has pledged to annually appropriate lease rental payments from any legally available funds before the conclusion of its fiscal year on Oct. 31. There will be no debt service reserve funded for the refunding COPs, but lease payment dates are scheduled to occur...
Companies mentioned in this report are: Joplin
Action: New Rating
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.
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.
SHOW LESS READ MORE >