Moody's assigns MIG 1 to Roseville Joint Union HSD's (CA) 2014 TRAN

Posted on: July 29, 2014, 3:54 pm

NEW YORK, July 29, 2014 --Moody's Investors Service has assigned a MIG 1 rating to Roseville Joint Union High School District, California's 2014 Tax and Revenue Anticipation Notes (TRAN) in the approximate amount of $4.5 million. The notes are a general obligation of the district payable from any unrestricted fiscal 2015 receipts. These receipts effectively consist of taxes, income, revenues, cash receipts, and other moneys that accrue to the district's general fund. The notes will be issued near September 3, 2014 and will be repaid near September 3, 2015 and are being issued to fund the district's mid-year cash flow needs. The district's TRAN is one of several expected Placer County school district TRANs to be sold simultaneously using a single official statement and all these TRANs are coordinated with the same issuance and maturity dates. Each district's notes are separate securities, each one solely an obligation of the issuing district. The district has an Aa2 rating on its outstanding general obligation bonds...

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