Summary: Phoenix Industrial Development Authority, Arizona   Phoenix Collegiate Academy; Charter Schools - S&P Global Ratings’ Credit Research

Summary: Phoenix Industrial Development Authority, Arizona Phoenix Collegiate Academy; Charter Schools

Summary: Phoenix Industrial Development Authority, Arizona   Phoenix Collegiate Academy; Charter Schools - S&P Global Ratings’ Credit Research
Summary: Phoenix Industrial Development Authority, Arizona Phoenix Collegiate Academy; Charter Schools
Published Dec 02, 2014
Published Dec 02, 2014
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Abstract:

Standard&Poor's Ratings Services revised its outlook to positive and at the same time affirmed its 'BB+' rating on the Phoenix Industrial Development Authority, Ariz.'s $5.5 million series 2012 education facility revenue bonds issued on behalf of Phoenix Collegiate Academy Inc. (PCA). The outlook change and affirmed rating reflect our view of PCA's operational turnaround supporting robust debt service coverage at maximum annual debt service (MADS) in fiscal 2014 (unaudited), along with adequate unrestricted reserves and solid days' cash on hand for the rating level. Fiscal 2014 results were supported by PCA's growing enrollment and Arizona's improving per-pupil funding. Fiscal 2014 was PCA's first full school year in the new high school building that was funded with the 2012

  
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Summary

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Global Issuers, Public Finance
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Region
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Phoenix Industrial Development Authority, Arizona Phoenix Collegiate Academy; Charter Schools" Dec 02, 2014. Alacra Store. Nov 18, 2017. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Phoenix-Industrial-Development-Authority-Arizona-Phoenix-Collegiate-Academy-Charter-Schools-1372598>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Phoenix Industrial Development Authority, Arizona Phoenix Collegiate Academy; Charter Schools Dec 02, 2014. New York, NY: Alacra Store. Retrieved Nov 18, 2017 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Phoenix-Industrial-Development-Authority-Arizona-Phoenix-Collegiate-Academy-Charter-Schools-1372598>
  
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