Bangkok--9 Jul--Standard & Poor's
Standard & Poor's Ratings Services raised debt ratings on two Colorado school districts, three California school districts, and two Wyoming school districts, and affirmed debt ratings on one school district in Montana and one in Colorado. For complete information, see our report published today on RatingsDirect on the Global Credit Portal.
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 reserve maintenance factored into most of the upgrades, although many districts are subject to revenue pressure from intensifying state budgetary shortfalls that have translated into funding reductions or delays in some cases," said Standard & Poor's credit analyst Lisa Schroeer.
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
California, March 11, 2010
Colorado, March 1, 2010
Montana, April 21, 2010
State Budget Roundup: Lingering Gaps And The End of The Stimulus Dominate Deliberations, April 20, 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
Michael P Taylor, New York (1) 212-438-1458
Chris Morgan, San Francisco (1) 415-371-5032
Matthew Reining, San Francisco (1) 415-371-5044
Gabriel Petek, CFA, San Francisco (1) 415-371-5042