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California School Finance Authority Coastal Academy Charter School Inc.; Charter Schools Dec 12 Product Image

California School Finance Authority Coastal Academy Charter School Inc.; Charter Schools Dec 12

  • ID: 2359297
  • December 2012
  • Region: California
  • Standard & Poors

FEATURED COMPANIES

  • California Sch Fin Auth
  • MORE

Abstract
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

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

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- Coastal Academy Charter Sch Inc
- California Sch Fin Auth

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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