Bangkok--23 May--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Ventura County, Calif.'s series 2011-12 tax and revenue anticipation notes.
"The rating reflects our view of the county's good projected debt service coverage and additional borrowable liquidity in its risk management funds, early set-asides of principal, record of good financial performance, and history of accurate or conservative coverage projections," said Standard & Poor's credit analyst Chris Morgan.
We understand that the county will use the proceeds to provide liquidity during the fiscal year to pay for operating expenses, capital expenditures, and associated debt payments.
Making up the western portion of Los Angeles region, the county encompasses a population of 828,383 and 1,873 square miles. Its largest employers fall within the military, health care, manufacturing, and biotechnology sectors.
RELATED CRITERIA AND RESEARCH
USPF Criteria: Short-Term Debt, June 15, 2007
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Media Contact:
Edward Sweeney, New York (1) 212-438-6634,
[email protected]
Analyst Contacts:
Chris Morgan, San Francisco (1) 415-371-5032
David G Hitchcock, New York (1) 212-438-2022