Standard & Poor's Ratings Services affirmed its 'A+' long-term rating and underlying rating (SPUR), with a stable outlook, on San Joaquin Delta Community College District, Calif.'s general obligation (GO) bonds. The rating reflects our opinion of the district's: Strong financial performance and maintained fund balance despite previous state funding cutbacks; Operational flexibility provided by its ability to reduce class sections and curriculum, if required; and Good financial management practices. We believe the rating is somewhat offset by, what we consider, the district's: Decreasing assessed value (AV), High unemployment, and Moderate debt. Unlimited ad valorem taxes levied on taxable property in the district secure the GO bonds. San Joaquin Delta Community College District encompasses approximately 2,300 square miles and serves most...
Companies mentioned in this report are:
- San Joaquin Delta Comnty Coll 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.
READ MORE >
Note: Product cover images may vary from those shown