Summary: Braham Independent School District No. 314, Minnesota; School State Program - S&P Global Ratings’ Credit Research

Summary: Braham Independent School District No. 314, Minnesota; School State Program

Summary: Braham Independent School District No. 314, Minnesota; School State Program - S&P Global Ratings’ Credit Research
Summary: Braham Independent School District No. 314, Minnesota; School State Program
Published Oct 11, 2018
6 pages (2709 words) — Published Oct 11, 2018
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Abstract:

S&P Global Ratings assigned its 'A-' underlying rating and 'AAA' program rating to Braham Independent School District No. 314, Minn.'s series 2018A general obligation (GO) alternative facilities and capital facilities refunding bonds and 2018B GO taxable OPEB refunding bonds. At the same time, S&P Global Ratings affirmed its 'A-' underlying rating on the district's existing GO bonds. The outlook is stable. The outlook on the program rating reflects that on the state GO rating. The 'AAA' program rating reflects our view of the additional security provided by the district's eligibility for and participation in Minnesota's School District Credit Enhancement Program, a state standing appropriation program to prevent a default on the district's bond issues as authorized by Minnesota State Statutes,

  
Brief Excerpt:

...S&P Global Ratings assigned its 'A-' underlying rating and '###' program rating to Braham Independent School District No. 314, Minn.'s series 2018A general obligation (GO) alternative facilities and capital facilities refunding bonds and 2018B GO taxable OPEB refunding bonds. At the same time, S&P Global Ratings affirmed its 'A-' underlying rating on the district's existing GO bonds. The outlook is stable. The outlook on the program rating reflects that on the state GO rating. The '###' program rating reflects our view of the additional security provided by the district's eligibility for and participation in Minnesota's School District Credit Enhancement Program, a state standing appropriation program to prevent a default on the district's bond issues as authorized by Minnesota State Statutes, Section 126C.55. Under the program, the state will pay debt service on behalf of the district from the state's general fund if the district fails to meet its debt service obligations for the qualified...

  
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Summary

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Public Finance
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Braham Independent School District No. 314, Minnesota; School State Program" Oct 11, 2018. Alacra Store. Dec 18, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Braham-Independent-School-District-No-314-Minnesota-School-State-Program-2112712>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Braham Independent School District No. 314, Minnesota; School State Program Oct 11, 2018. New York, NY: Alacra Store. Retrieved Dec 18, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Braham-Independent-School-District-No-314-Minnesota-School-State-Program-2112712>
  
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