Standard&Poor's Ratings Services assigned its 'BB' long-term rating to California Municipal Financial Authority's series 2012 charter school revenue bonds, issued for Santa Rosa Academy, Inc. (SRA). The outlook is stable. The $24 million series 2012 bonds will make up substantially all of SRA's debt. The bonds will finance Phase I construction of a new campus that will sit on a 25-acre parcel and will include approximately 67,000 square feet of enclosed space across seven structures, including a 14,000-square-foot, one-story elementary school building; a 14,000-square-foot, two-story middle school building; and an 18,000-square-foot, two-story high school building as well as a library/technology center, administration building, student pavilion, security building, and soccer field. The new campus, which is expected to open
