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Life Sciences
Fitch Affirms Jordan School District, Utah's Outstanding GOs at 'AAA'; Outlook Negative
September 21st, 2008
Fitch Ratings has affirmed and removed from Rating Watch Negative the 'AAA' underlying rating on Jordan School District, UT's (the district) approximately $335.3 million in outstanding GO bonds. The Rating Outlook is Negative. The 'AAA' underlying rating reflects the district's credit quality without consideration of the 'AAA'-rated guaranty on the GO bonds provided by the Utah School Bond Default Avoidance Program. The bonds are included in the state program and, thereby, also are rated 'AAA' based on the enhancement. Fitch's conversion to Rating Outlook Negative is based on the longer expectation for resolution of uncertain credit factors resulting from the breakup of...
Source: Pharma Investments, Ventures & Law Weekly (2008-09-21)
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