Summary: Contra Costa Community College District, California; General Obligation

S&P Global Ratings assigned its 'AA+' long-term rating to Contra Costa Community College District (CCD), Calif.'s series 2019B general obligation (GO) bonds and series 2019 GO refunding bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the college's existing debt. The outlook is stable. The rating reflects our view of the district's continued economic growth and improved property wealth over the last several years. While overall financial performance has reflected deficits in the past two years, the college's general fund operations continue to generate solid surpluses even after transferring money to funds the board reserved to address future long-term pension and other postemployment benefit (OPEB) liabilities. We expect management will maintain its historically very strong reserves,

...S&P Global Ratings assigned its '##+' long-term rating to Contra Costa Community College District (CCD), Calif.'s series 2019B general obligation (GO) bonds and series 2019 GO refunding bonds. At the same time, S&P Global Ratings affirmed its '##+' rating on the college's existing debt. The outlook is stable. The rating reflects our view of the district's continued economic growth and improved property wealth over the last several years. While overall financial performance has reflected deficits in the past two years, the college's general fund operations continue to generate solid surpluses even after transferring money to funds the board reserved to address future long-term pension and other postemployment benefit (OPEB) liabilities. We expect management will maintain its historically very strong reserves, while continuing to implement prudent budget practices with regard to certain long-term liabilities. Revenue from unlimited ad-valorem taxes levied on taxable property within the district...

Summary