Standard & Poor’s raised its issuer credit rating on South Carolina’s Chesterfield County School District to A from BBB-plus.
Analysts cited an improved financial position over the past five fiscal years despite a modest fund balance drawdown projected for fiscal 2010, as well as revisions to Standard & Poor’s criteria.
The credit outlook is stable.
At the same time, agency assigned an A rating to the district’s $25.9 million issue of Series 2010 general obligation refunding bonds.
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
The law firm revealed 2024 promotions.
As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
The extension of the current solar net metering system could lower revenue for the utility.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
