NEW YORK (Standard&Poor's) March 31, 2011—Standard&Poor's Rating Services raised its underlying rating (SPUR) to 'BBB-' from 'BB+' on Chester County Industrial Development Authority, Pa.'s revenue bonds, issued for the Collegium Charter School, based on the school's ongoing enrollment growth, which has contributed to an overall improved financial position. Credit factors supporting the 'BBB-' rating include Standard&Poor's assessment of the school's strong demand profile characterized by steady enrollment increases over the past five years and a growing waiting list that is updated annually; adequate historical debt service coverage on the school's bonds and leases; successful completion of a new school facility and relocation to the new site, which seems to have had little, if any,
