San Diego Unified School District, CA#s 2018-2019 Series A TRANs Assigned #SP-1+# Rating

Stocks and Financial Services Press Releases Thursday June 28, 2018 11:13
SAN FRANCISCO--29 Jun--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) June 27, 2018--S&P Global Ratings assigned its 'SP-1+' short-term rating to San Diego Unified School District, Calif.'s 2018-2019 tax and revenue anticipation notes (TRANs), series A.

District officials intend to use note proceeds to fund seasonal cash deficits during fiscal 2019.

"The ratings reflects what we view as very strong note coverage by district-projected available fiscal 2019 general fund cash balances and by projected alternative liquidity at the maturity date, as well as positive variance of actual estimated year-end note coverage compared to historical projections in most years," said S&P Global Ratings credit analyst Benjamin Geare.

Securing the TRANs are taxes, income, revenue, cash receipts, and other unrestricted money the district receives or is attributable to the general fund in the fiscal year ending June 28, 2019. Total note principal and interest are due on June 28, 2019. Under the note resolution, the district will set aside 60% of note principal with the paying agent by Jan. 14, 2019, and 40% plus note interest by April 30, 2019.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at for further information. Complete ratings information is available to subscribers of RatingsDirect at All ratings affected by this rating action can be found on S&P Global Ratings' public website at Use the Ratings search box located in the left column.

Latest Press Release

mai welcomes real estate developer CMC on November 19

Market for Alternative Investment (mai) will list Chaoprayamahanakorn pcl, a leading real estate developer onNovember 19, under the ticker symbol "CMC". The company has a market capitalization at its initial public offering (IPO) of THB 3.00 billion...

KTC - Chilito Mexican Grill - Farm Factory provide members special privileges for payments made using QR Pay in the KTC Mobile app.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, provides KTC VISA and KTC MasterCard credit card members who make payments through KTC QR Pay in the "KTC Mobile" app worth Bt. 300 or more...

Photo Release: KBank opens new flagship branch and THE WISDOM Lounge at ICONSIAM

Mr. Wirawat Panthawangkul (3rd from left), KBank Senior Executive Vice President, and Ms. Chadatip Chutrakul (4th from left), Director of ICONSIAM Co., Ltd., and Chief Executive Officer of Siam Piwat Co., Ltd., participated in the opening ceremony of...

Photo Release: CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

Tengku Dato' Sri Zafrul Aziz, Group CEO of CIMB Group (right), and Brad Garlinghouse, Ripple CEO (left) commemorating the strategic collaboration between CIMB Group and Ripple to power instant payments across ASEAN at the Singapore FinTech festival 2018...

CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

CIMB is one of the first banks to leverage blockchain technology to tap into region's USD120 billion remittance business CIMB Group ("CIMB" or "the Group") and Ripple have entered into a strategic collaboration to enable instant cross border payments...

Related Topics