Poway Unified School District gets an AA rating for its series A GO bonds.

Summary: Poway Unified School District Facilities Improvement District No. 2007-1, California; General Obligation

 

Publication Date:
Dec 01, 2008

Report Type:
Summary

Abstract:
Standard&Poor's Ratings Services has assigned its 'AA-' rating on Poway Unified School District Facilities Improvement District No. 2007-1 (SFID), Calif.'s 2008 Election, series A GO bonds. The outlook is stable. In our opinion, the rating reflects: Proximity to the diverse and broad San Diego area economy, with very strong income and extremely strong wealth levels; Moderate average daily attendance (ADA) increases, the main driver of the state funding formula, in the past two years; Significant financial flexibility when factoring in all available reserves; and Moderate overall debt burden as a percent of market value. An unlimited ad valorem tax pledge levied within the improvement district secures the bonds. The SFID was created to improve and expand certain of

Brief Excerpt:
RESEARCH Ratings Definitions Summary: Poway Unified School District Facilities Improvement District No. ####-#, California; General Obligation Publication date: ##-Dec-#### Primary Credit Analyst: Hilary A Sutton, New York ###-###-####;...

Word Count:
1197

Issuer:
Poway Unif Sch Dist Sch Facs Imp Dist # 2007-1

Summary: Poway Unified School District Facilities Improvement District No. 2007-1, California; General Obligation - 2008/12/01 - S&P Credit Research - AlacraStore.com