Bangkok--26 Jan--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Klamath Community College District, Ore.'s series 2009 full faith and credit obligations. The outlook is stable.
"The rating reflects the district's extremely strong available fund balances and good financial policies and practices," said Standard & Poor's credit analyst Chris Morgan. "The rating is further supported by the district's rate-setting flexibility and low debt burden."
Bond proceeds will contribute to the construction of a health and science facility as well as a career and technical center.
Encompassing most of Klamath County in southern Oregon, the district serves a largely rural area that has experienced moderate population growth in the current decade. We understand that in-migration of retirees has driven much of recent residential development, which had tended to focus on the area in and around the City of Klamath Falls, although nationwide housing weakness has slowed this trend during the past year. Other economic drivers include generally stable military employment and a currently faltering manufacturing sector.
Complete ratings information is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, 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; select your preferred country or region, then Ratings in the left navigation bar, followed by Find a Rating.
Media Contact:
Edward Sweeney, New York (1) 212-438-6643, [email protected]
Analyst Contacts:
Chris Morgan, San Francisco (1) 415-371-5032
Lisa Schroeer, San Francisco (1) 415-371-5006
Key Contacts:
Americas Media Relations: (1) 212-438-6667
media_ [email protected]
Americas Customer Service: (1) 212-438-7280
[email protected]