Summary: Hillsborough City School District, California; General Obligation; Note Aug 08
- ID: 2127625
- August 2008
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Hillsborough City School District, Calif.'s general obligation (GO) bond anticipation notes (BANs) (election of 2002) series 2008. The rating is based on the demonstrated market access for bonds and notes. In addition, Standard & Poor's affirmed its 'AAA' rating and underlying rating (SPUR) on the district's outstanding GO bonds. The rating reflects: A Bay Area residential neighborhood with high wealth levels, including a per capita effective buying income that is 383% of the national level; "Basic Aid" status and parcel tax revenue, which insulates the district from state funding fluctuations; and An unreserved general fund balance ranging between 11% and 17% of expenditures for the past three years, as...
Companies mentioned in this report are: Hillsborough City Sch Dist
Action: New Rating
Action: Outlook: Stable
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