Bangkok--1 Apr--Standard & Poor's
Standard & Poor's Ratings Services raised various debt ratings on 21 school districts California and one in Colorado. We also affirmed debt ratings on three school districts in California and one in Colorado. In all cases, the resulting outlook is stable. For complete information, see "Surveillance Leads To Rating Actions On 26 California And Colorado School Districts," published today on RatingsDirect.
The rating actions were part of our practice of regularly surveilling existing ratings, and they reflect criteria we published in 2008 on the role of size, location, and quantitative factors in our opinions on general obligation and appropriation debt.
"Good reserves were a factor in many of the upgrades," said Standard & Poor's credit analyst Lisa Schroeer. "We expect some reserve cushion to be important as states continue to address budgetary shortfalls, which could translate into funding reductions or delays in some cases."
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: Does Bigger Always Mean Better? Sizing Up The Impact Of Size On Municipal Ratings, April 22, 2008
USPF Criteria: Location, Location, Location: What Does It Mean For My Community's Rating?, April 22, 2008
USPF Criteria: Appropriation-Backed Obligations, June 13, 2007
Colorado; Appropriations; General Obligation, Jan. 27, 2010
California; General Obligation; General Obligation Equivalent Security; Note; School State Program, March 11, 2010
The report is available to RatingsDirect on the Global Credit Portal subscribers 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
Timothy Barrett, New York (1) 212-438-6327
Michael P Taylor, New York (1) 212-438-1458
Gabriel Petek, CFA, San Francisco (1) 415-371-5042
Matthew Reining, San Francisco (1) 415-371-5044
Chris Morgan, San Francisco (1) 415-371-5032
Key Contacts:
Americas Media Relations: (1) 212-438-6667
media_
[email protected]
Americas Customer Service: (1) 212-438-7280
[email protected]