Colorado Educational and Cultural Facilities Authority Denver Academy; Independent Schools Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's Ratings Services affirmed its 'BBB-' long-term rating on the Colorado Educational and Cultural Facilities Authority's series 2006A, 2006B, and 2003A taxable revenue bonds, issued for Denver Academy. The outlook is stable. The rating reflects our view of the school's stable demand due to its niche programming and financial profile with a continued trend of operating surpluses. Additionally financial resources have slightly improvement but remain weak for the rating category. The rating reflects our view of the school's: Strong market position in the Denver metropolitan area from its unique learning differences program, minimal competition and competitive tuition rates; Balanced financial performance on a full-accrual basis, with a history of operating surpluses; and Moderate 5.7% debt burden and no...
Companies mentioned in this report are: Denver Academy,Colorado Educl & Cultural Facs Auth
Action: Affirmed
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
Denver Academy,Colorado Educl & Cultural Facs Auth
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