Solana Beach School District School Facilities Improvement District No. 2016-1, CA GO Bonds Assigned 'AAA' Rating
SAN FRANCISCO (S&P Global Ratings) April 19, 2017--S&P Global Ratings assigned its 'AAA' long-term rating to Solana Beach School District School Facilities Improvement District (SFID) No. 2016-1, Calif.'s series A (election of 2016) general obligation (GO) bonds. The outlook is stable. "The rating reflects our view of the district's significant revenue flexibility due to its 'basic aid' status and very strong available general fund balances," said S&P Global Ratings credit analyst Li Yang. "The rating further reflects our view of the district's very strong economy," Mr. Yang added. The district, with a population of about 40,552, serves a highly affluent community that includes the city of Solana Beach and portions of San Diego, Del Mar, and the communities of Rancho Santa Fe, Fairbanks Ranch, Carmel Valley, and portions of San Diego County. The SFID itself encompasses all of the district's territory except for a small portion of the district called the Pacific Highlands Ranch, an area currently under development. The district is located in San Diego County along the coast with the community of Cardiff-by-the-Sea to the north and the city of Del Mar to the south.
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Primary Credit Analyst: | Li Yang, San Francisco (1) 415-371-5024; li.yang@spglobal.com |
Secondary Contact: | Satomi D Suzuki, San Francisco (1) 415-371-5018; satomi.suzuki@spglobal.com |
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