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Article: Fitch Affirms Parma City School District, Ohio's COPs at 'A+' & TANs at 'AA-'; Outlook to Negative
- Article from:
- Wireless News
- Article date:
- July 21, 2009
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Wireless News
07-21-2009
Fitch Affirms Parma City School District, Ohio's COPs at 'A+' & TANs at 'AA-'; Outlook to Negative
Type: News
In the course of routine surveillance, Fitch Ratings affirmed the following ratings for Parma City School District (the district) and revises the Rating Outlook to Negative from Stable:
--Approximately $20.2 million outstanding 2002 and 2005 special obligation tax anticipation notes (TANs) at 'AA-';
--Approximately $12.4 million outstanding certificates of participation (COPs), series 2006 at 'A+'.
The 'AA-' rating for the TANs reflects the adequate coverage of debt service provided by pledge revenues and the general credit characteristics of the ...