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Fitch Rates Douglas County School District, Colorado $163MM GOs 'AA'.

Publication: Investment Weekly News
Publication Date: 07-NOV-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Fitch Ratings assigns an 'AA' rating to Douglas County School District Re. 1, Colorado's (the district) proposed $162.8 million general obligation (GO) refunding bonds, series 2009, scheduled to sell via negotiation the week of Oct. 19, 2009. The 2009 bonds are secured by an unlimited ad valorem pledge on all taxable property. Fitch also rates the bonds 'AA-' based on the support provided by the Colorado School Credit Enhancement Program. In addition, Fitch affirms the 'AA' rating on the district's $608.9 million in outstanding GO bonds. The Rating Outlook for both ratings is Stable.

The rating reflects the district's wealthy tax base and moderate debt levels, balanced against a financial position that's been pressured by voters' recent rejection of an operations and maintenance (O&M) levy override, slowing enrollment...

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