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Eastside Union SD, Calif., Downgraded to A-Minus by Fitch

NOV 13, 2012 3:08pm ET

Fitch Ratings said it downgraded Eastside Union School District, Calif.’s $6.8 million series 2002 and 2003 general obligation bonds to A-minus from A.

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Comments (2)
It would help to know that Eastside Union School District is located in Lancaster California. Since in California school G.O. bonds are secured by property taxes separate and apart from the district budget, what do any of the district related factors listed above have to do with the security of these bonds?
Posted by gbyers | Wednesday, November 14 2012 at 11:08AM ET
Of course you mean the unlimited ad valorem tax pledge of every property taxpayer within the District? It just gets to the point that the difference between general fund and general oblgation is huge.
Posted by sgorz | Wednesday, November 14 2012 at 4:04PM ET
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