TITLE

School Slide

AUTHOR(S)
Saskal, Rich
PUB. DATE
January 2005
SOURCE
Bond Buyer;1/14/2005, Vol. 351 Issue 32050, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that burdens of high enrollment growth prompted Standard & Poor's Corp. to lower the rating of Natomas Unified School District as of January 2005. The Sacramento-area district's general obligation rating was dropped to A-minus from A. Standard & Poor's cited the capital pressures caused by rapid enrollment growth and the high debt levels that have resulted. Analyst Misty Newland said a large portion of the district's debt is lease-based debt not supported by property tax levies. "Capital pressures have also caused the issuance of additional debt earlier than management expected at the time of the last rating," she said.
ACCESSION #
15684380

 

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