S&P: Foothill-De Anza Community College District, CA GO And COP Ratings Raised One Notch; New Bonds Rated 'AAA'
"The rating action reflects our view of the district's continued property wealth improvement and trend of positive operational performances," said S&P Global Ratings credit analyst Michael Parker. "The rating action also reflects our view of the district's improved state funding environment, providing greater funding to community college districts," Mr. Parker added.
The district will use bond proceeds to finance facility upgrades, refund the district's 2011 series C (election of 2006) GO bonds outstanding, and pay the costs of issuance.
The stable outlook reflects our view of the district's very strong and stable economy within Silicon Valley.