Summary: Gilroy School Facilities Financing Authority, California Gilroy Unified School District; General Obligation Feb 13
- ID: 2394407
- February 2013
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Gilroy School Facilities Financing Authority, Calif.'s nearly $100 million series 2013A general obligation (GO) revenue bonds, issued on behalf of the Gilroy Unified School District. At the same time, Standard & Poor's affirmed its 'A+' underlying rating (SPUR) on the district's existing GO bonds. The outlook all bonds is stable. The ratings reflect our view of the district's: Participation in the broad Silicon Valley economy and very strong income levels; Growing average daily attendance (ADA), the basis for state funding levels; and Adequate general fund performance, with recent unreserved general fund balances that are at or above 6%. These rating strengths, in our opinion, are somewhat offset by high...
Companies mentioned in this report are:
- Gilroy Unif Sch Dist
- Gilroy Sch Facs Fincg Auth
Action: New Rating
Action: Outlook: Stable
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