Bangkok--4 Jan--Standard & Poor's
Standard & Poor's Ratings Services has raised the debt ratings on five school districts in California and affirmed the debt ratings on four districts in California, one in Colorado, one in Idaho, and one in Arizona. The resulting outlook is positive for two and stable for 10. For complete information, see our report published today on RatingsDirect on the Global Credit Portal.
The rating actions were part of our regular surveillance of existing ratings.
Education remains a priority for these states, with schools getting support both from the local tax bases and state revenue sharing systems. Most of the issuers listed in the report are in states that have faced recent financial and/or economic challenges, some of which have translated into reduced revenue distributions, which can particularly affect school districts that receive a significant portion of their funding based on per-pupil state distributions.
"We have communicated with each of these issuers about changes in their economies, finances, and policies," said Standard & Poor's credit analyst Lisa Schroeer. "We have assessed any changes and their impact on issuer revenue, as well as management responses to these changes."
RELATED CRITERIA AND RESEARCH
USPF Criteria: GO Debt, Oct. 12, 2006
USPF Criteria: Key General Obligation Ratio Credit Ranges — Analysis Vs. Reality, April 2, 2008
USPF Criteria: Appropriation-Backed Obligations, June 13, 2007
The report is available to RatingsDirect subscribers on the Global Credit Portal at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to
[email protected]. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Lisa Schroeer, Charlottesville (1) 434-220-0892
Michael P Taylor, New York (1) 212-438-1458