Bangkok--7 Feb--Standard & Poor's
SAN FRANCISCO (Standard & Poor's) Feb. 6, 2014--Standard & Poor's Ratings Services affirmed and removed from CreditWatch its 'A+' underlying rating (SPUR) on the Hayward Unified School District, Calif.'s outstanding general obligation (GO) bonds and the 'A' long-term rating on the district's series 2012 certificates of participations (COPs), issued by the Hayward Schools Financing Corp. on behalf of the district. The outlook is stable.
"The outlook is stable based on our view of the district's better-than-expected budgetary performances in fiscal years 2012 and 2013 and projected maintenance of good-to-strong reserve levels," said Standard & Poor's credit analyst Jaime Trejo.
We originally placed it on CreditWatch with negative implications on Nov. 13 due to lack of information from the district.