CUSIP 507012XL1
- ISIN: US507012XL16
- Entity Name: Consolidated School District No. 1 of the Parish of Lafourche
- Sector: Municipal Agency
- Announcement Date: 10-Aug-2018
- Effective Date: *****
- Issue Date: *****
- Maturity Date: 01-Mar-2036
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Rating Downgrade
- News: S&P Global Ratings lowered its rating two notches to `A-` from `A+ on Lafourche Parish Consolidated School District No. 1, La.`s general obligation debt outstanding. The outlook is negative. The downgrade reflects the district`s fiscal 2017 deficit, nearly exhausted reserves, and a significant decrease in 2018 assessed values in the district. Current economic conditions and declining sales tax revenues could place additional pressure on the district`s reserves, possibly making general fund balance negative. The rating reflects our view of the district`s Significant drawdown on fund balances in 2017 to 0.5% of total governmental expenditures; Moderately concentrated economy that is focused on the oil and gas industry; and, High pension payments that we view as likely to increase given current pension plan assumptions
- Description: Municipal Name: Consolidated School District No. 1 of the Parish of Lafourche CUSIP: 507012XL1 Currency: USD Consolidated School District No. 1 of the Parish of Lafourche announced today that the Standard & Poor`s Rating has downgraded the ratings of the Series 2017, General Obligation School Bonds from A+ to A-.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US507012XL16
