California School Finance Authority Coastal Academy Charter School Inc.; Charter Schools Dec 12
- ID: 2359297
- December 2012
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'BBB-' long-term rating to the California School Finance Authority's charter school revenue bonds series 2013A and 2013B (taxable), both issued on behalf of the Coastal Academy Charter School. The outlook is stable. The 'BBB-' long-term rating reflects our view of the Coastal Academy's history of strong operating performance and already sufficient pro forma maximum annual debt service (MADS) coverage based on 2012 operations. We consider the cash position as adequate on a pro forma basis after including expected cash reimbursements from the bond issuance. Furthermore, the Coastal Academy has a history of strong test scores and growing enrollment. The rating also reflects our view of the risks associated with completing the construction of...
Companies mentioned in this report are:
- Coastal Academy Charter Sch Inc
- California Sch Fin Auth
Action: New Rating
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Research Type: Full Analysis