Napa County Board of Education, CA's 2019 COPs Assigned 'AA-' Rating

SAN FRANCISCO (S&P Global Ratings) Nov. 21, 2019--S&P Global Ratings assigned its 'AA-' long-term rating to the Napa County Office of Education, Calif.'s 2019 certificates of participation (COPs). The outlook is stable. "The rating reflects our view of the office's covenant to budget and appropriate lease payments as well as the office's general creditworthiness," said S&P Global Ratings credit analyst Jen Hansen. The stable outlook reflects our opinion of the office's very strong economy, demonstrated by extremely strong assessed value and very strong income. The stable outlook also reflects our anticipation that the office will maintain very strong reserves despite expected drawdowns. We do not anticipate changing the rating during our two-year outlook horizon. Proceeds from the sale of the

...November 21, 2019 SAN FRANCISCO (S&P Global Ratings) Nov. 21, 2019--S&P Global Ratings assigned its '##-' long-term rating to the Napa County Office of Education, Calif.'s 2019 certificates of participation (COPs). The outlook is stable. "The rating reflects our view of the office's covenant to budget and appropriate lease payments as well as the office's general creditworthiness," said S&P Global Ratings credit analyst Jen Hansen. The stable outlook reflects our opinion of the office's very strong economy, demonstrated by extremely strong assessed value and very strong income. The stable outlook also reflects our anticipation that the office will maintain very strong reserves despite expected drawdowns. We do not anticipate changing the rating during our two-year outlook horizon. Proceeds from the sale of the $12 million COPs will be used to build the Camille Creek Community School and refund the office's outstanding 2012 lease obligation....

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