Summary: Orland Joint Unified School District, California; Appropriations; General Obligation Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services assigned its 'A' long-term rating to Orland Joint Unified School District, Calif.'s series 2012B general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'A' underlying rating (SPUR) on the district's GO bonds outstanding. Standard & Poor's also affirmed its 'A-' long-term rating on the district's series 2010 certificates of participation (COPs) outstanding. The outlook on all ratings is stable. The ratings reflect our view of the district's: Good income indicators, with median household effective buying income at 91% of the national average; Good reserve position, with the audited fiscal 2011 unassigned fund balance equal to 7.0% of expenditures; and Low to moderate overall net debt burden. The preceding credit strengths are...

Companies mentioned in this report are: Orland Jt Unif Sch Dist
Action: Affirmed
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.

Orland Jt Unif Sch Dist

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