| Title: | Santa Clara Unified School District, CA's Bonds Rated 'SP-1+' On Underlying Credit Quality |
| Price: | $100.00 |
| Publication Date: | May 07, 2008 |
| Report Type: | News |
| Abstract: | NEW YORK (Standard&Poor's) May 7, 2008--Standard&Poor's Ratings Services assigned its 'SP-1+' short-term rating to Santa Clara Unified School District, Calif.'s $13 million series 2008 tax revenue anticipation notes (TRANs). The rating reflects the district's strong underlying credit quality ('AA' general obligation [GO] rating), structural provisions that include early set-asides of pledged revenues in a segregated note repayment account, strong coverage of set-asides and debt service by projected net available general fund balances, and significant alternate liquidity available in the event of a general fund cash deficiency at note maturity. Securing the notes are unrestricted taxes, income, revenue, cash, and other money received for, or allocable to, the general fund in the 2008-2009 fiscal year. The district |
| Brief Excerpt: | RESEARCH Ratings Definitions Santa Clara Unified School District, CA's Bonds Rated '####+' On Underlying Credit Quality Publication date: ##-May-#### Primary Credit Analyst: Jim Tchou, New York (#) ###-###-####; jim_tchou@standardandpoors.com... |
| Word Count: | 812 |
| Issuer: | Santa Clara Unif Sch Dist |
| Sector: | Public Finance |
| Country: | United States |
| Region: | United States |
| Format: | 
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