Rating Raised To 'A+' On Southwestern Oregon Community College District, OR Bonds On Improved Financial Position

Stocks and Financial Services Press Releases Thursday June 27, 2013 08:56
SAN FRANCISCO--27 Jun--Standard & Poor's

SAN FRANCISCO (Standard & Poor's) June 26, 2013--Standard & Poor's Ratings Services raised its long-term rating to 'A+' from 'A' on Southwestern Oregon Community College District, Ore.'s full faith and credit bonds outstanding. At the same time, Standard & Poor's assigned its 'A+' rating to the college's full faith and credit refunding bonds, series 2013. The outlook is stable.

"The raised rating reflects our view of the significant improvement in the district's financial position in the last three fiscal years, despite a challenging state funding environment," said Standard & Poor's credit analyst Sarah Sullivant.

Partially offsetting these positive credit factors, in our view, are the district's limited economic base marked by adequate incomes, as well as its reliance on a revolving credit facility to cover cash flow needs.

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