Bangkok--20 Oct--Standard & Poor's
Standard & Poor's Ratings Services raised its long-term rating to 'A' from 'BBB-' on the Colorado Educational and Cultural Facilities Authority's series 2010 charter school revenue bonds, issued on behalf of Parker Core Knowledge Charter School.
"The upgrade reflects the inclusion of these obligations into the State of Colorado's moral obligation program," said Standard & Poor's credit analyst Chris Morgan.
At the same time, we assigned a 'BBB-' school issuer credit rating (ICR) to the series 2010 bonds to reflect our view of the school's credit profile. The outlooks on both ratings are stable.
The stable outlook on the long-term rating reflects the outlook on the Colorado ICR. The stable outlook on the school ICR reflects that on the school rating.
For further information on Colorado's general credit characteristics, please refer to the state review published March 1, 2010, on RatingsDirect on the Global Credit Portal. For more information on our view of the school's credit profile, please refer to our report published Sept. 21, 2010, on RatingsDirect.
RELATED CRITERIA AND RESEARCH
USPF Criteria: State Credit Enhancement Programs, Nov. 13, 2008
USPF Criteria: Charter Schools, June 14, 2007
Complete ratings information is available to RatingsDirect subscribers on the Global Credit Portal at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Chris Morgan, San Francisco (1) 415-371-5032
Jennifer Hansen, San Francisco (1) 415-371-5035