Moody's assigns MIG 1 rating to the State of Colorado's Education Loan Program Tax and Revenue Anticipation Notes, Series 2012C

Posted on: December 13, 2012, 6:13 pm

NEW YORK, December 13, 2012 --Moody's Investors Service has assigned a MIG 1 rating to the State of Colorado's Education Loan Program Tax and Revenue Anticipation Notes, Series 2012C. The program provides seasonal cash flow financing for school districts with loans from state treasurer that are secured by a priority lien on property tax receipts for the general funds of participating districts to be collected between March and June of 2013. Pledged receipts are to be remitted to the state treasurer by June 25, 2013 prior to note maturity on June 27, 2013. The notes are on parity with Series 2012B program notes of $125 million (rated MIG 1) that were issued in June 2012, which are secured by the same pledged revenues and also mature on June 27, 2013...

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