Salinas City Elementary School District, CA Debt Ratings Raised One Notch On Improved Financial Profile, Tax Base Growth

Stocks and Financial Services Press Releases Friday February 9, 2018 08:36
SAN FRANCISCO--9 Feb--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) Feb. 8, 2018--S&P Global Ratings raised its underlying rating (SPUR) to 'A+' from 'A' on Salinas City Elementary School District, Calif.'s outstanding general obligation (GO) bonds, and raised its SPUR to 'A' from 'A-' on the district's outstanding certificates of participation (COPs). At the same, S&P Global Ratings assigned its 'A+' long-term rating to the district's 2018 series A and B GO refunding bonds and its election of 2008 series C GO bonds.

The outlook on all ratings is stable. "The rating action is based on our view of the district's improving financial profile, as well as its growing population and tax base, since the fiscal 2011-2013 time period," said S&P Global Ratings credit analyst Chris Grant.

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