Standard & Poor's Ratings Services affirmed its 'A+' rating, with a stable outlook, on Westfield Central School District, N.Y.'s general obligation debt. The rating reflects our opinion of the district's general creditworthiness, including its: Limited local economy, reflected by modest population and enrollment decreases; Adequate wealth and income; Good financial profile; and Low debt profile with a rapid amortization schedule. We believe financial pressure, including a reliance on state aid and property tax limitations, somewhat offsets these credit strengths. In addition, the New York State Aid Intercept program provides additional bond security. The 49-square-mile Westfield Central School District, in Chautauqua County (A+/Negative), is on Lake Erie, approximately nine miles north of the Pennsylvania border. The district served a 2011 population...
Companies mentioned in this report are:
- Westfield Cent Sch Dist
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. SHOW LESS READ MORE >