CUSIP 103097BZ3

  • ISIN: US103097BZ38
  • Entity Name: Box Butte County School District 0006
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Rating Upgrade
  • News: S&P Global Ratings raised its rating to `A` from `A-` on Box Butte County School District No. 6 (Alliance Public Schools), Neb.`s, series 2010B taxable limited-tax qualified school construction bonds (QSCBs) based on the application of its ""Issue Credit Ratings Linked To U.S. Public Finance Obligors"" criteria (published Jan. 22, 2018, on RatingsDirect). The outlook is stable. We previously rated the bonds under our ""Special Tax Bonds"" criteria that the ""Ratings Linked"" criteria fully superseded. The limited-tax debt is secured by property tax revenue generated from a 5.2-cent property tax levy. We consider this to be a general operating pledge and in accordance with our RLOC criteria, we generally rate these obligations on par with the obligor`s general creditworthiness. The district issued the series 2010B bonds as QSCBs. It will levy net of the federal subsidy to pay the principal and interest on the bonds. The resolution pledges the federal subsidies toward the repayment of the bonds. The series 2010B bonds have a debt service reserve (DSR) funded at average annual debt service. If the debt service fund is drawn on, the legal provision states that the DSR fund will be replenished to its original amount by the district by the end of the following fiscal year, but no later than the next interest payment date on the bonds. Therefore, the district can replenish the DSR fund from its interfund borrowings, the general fund, or other available funds, or with the issuance of tax anticipation notes pursuant to Section 79-1070 of the Revised Statutes of Nebraska.
  • Description: *****
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