Standard & Poor's Ratings Services affirmed its 'AA-' rating, with a stable outlook, on Duval County School Board, Fla.'s certificates of participation. The rating reflects our opinion of the district's: General underlying creditworthiness, as lessee; Master-lease structure, under which the failure to appropriate for one series of lease payments causes the termination of all leases covered by the master agreement, that ties together nine school district facilities and eight school additions; Dedicated property tax levy, not subject to electorate approval, which can be used to pay lease obligations and cover aggregate master-lease debt service requirements and that provides the district with significant flexibility to fund capital needs; and Absolute and unconditional obligation to make lease payments once funds have been...
Companies mentioned in this report are:
- Duval Cnty Sch Brd
Action: Outlook: Stable
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