| Title: | Summary: Garvey School District, California; General Obligation |
| Price: | $175.00 |
| Publication Date: | Apr 28, 2008 |
| Report Type: | Summary |
| Abstract: | Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on Garvey School District, Calif.'s outstanding general obligation (GO) debt and assigned its 'A+' rating to the district's series 2008 GO bonds. The raised rating reflects the district's improved financial position -- including a general fund balance that has doubled in the past couple of years -- and its willingness to address and manage declining average daily attendance (ADA), which is the primary driver of the state equalization funding formula. It further reflects the district's: Participation in the broad Los Angeles MSA, and Low overall debt burden. The rating is constrained by continued financial and operational pressures created by continued declining ADA, and below-average to low |
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Garvey School District, California; General Obligation Publication date: ##-Apr-#### Primary Credit Analyst: Shannon Groff, San Francisco (#) ###-###-####; shannon_groff@standardandpoors.com Secondary... |
| Word Count: | 1149 |
| Issuer: | Garvey Sch Dist |
| Sector: | Public Finance |
| Country: | United States |
| Region: | United States |
| Format: | 
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