Research Update: Whiting Petroleum Corp. Upgraded to 'BB+' On Increased Scale; Outlook Stable Jan 12
- Language: English
- Published: January 2012
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Whiting School Building Corp., Ind.'s series 2013 ad valorem property tax first mortgage bonds, issued for Whiting City School. Standard & Poor's also affirmed its 'AA+' long-term rating on the school's series 2008 general obligation (GO) bonds. The rating reflects our view of the district's eligibility for, and participation in, the Indiana State Aid Intercept Program and its qualifying 2x coverage of debt service with state foundation payments. The outlook is stable. Standard & Poor's rates four types of state programs, in more than 20 states, that provide enhancement for school bond issues: state guarantee, permanent fund, annual appropriation, and state intercept or withholding programs. Each state program is...
Companies mentioned in this report are:
- Whiting City Sch
- Whiting Sch Bldg Corp
Action: New Rating
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 >