New York, April 21, 2022 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings -and other ratings that are associated with the same analytical units for the rated entity(entities) listed below.
The review was conducted through a portfolio review discussion held on 14 April 2022 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. A possible outcome from periodic reviews is a referral of a rating to a rating committee. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement.
Key Rating Considerations
The principal methodology used for this review was US Charter Schools published in September 2016. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.Key rating considerations on a forward-looking basis may include but are not limited to the following summarized below. Revenue Base Characteristics: Metrics may include but are not limited to tax base size measured by per capital income relative to US average; nominal GDP; full value; median family income and/or size of operating and maintenance budget; nature of pledge supporting repayment. Market Position: Metrics may include but are not limited to revenue predictability and stability; service area or system size; asset condition; utilization; legal ability to match revenues and spending.Financial Position: Metrics may include but are not limited to debt service coverage; absolute fund balance and cash position; budget flexibility; revenue trends; relationship between inflows and outflows, fixed costs compared to own source revenue; liquidity and other funds available for short term payables. Debt Affordability: Metrics may include but are not limited to leverage as defined by debt to long term liabilities or spendable cash and investments to debt, pension and other long-term obligations compared to revenues or GDP; ability to issue additional debt on the same revenue base; any debt service reserve funds and requirement. This announcement applies only to Rated Entities with EU rated, UK rated, EU endorsed and UK endorsed ratings. Rated Entities, with Non EU rated, non UK rated, non EU endorsed and non UK endorsed ratings may be referenced herein to the extent necessary, if they are part of the same analytical unit.Please see the Issuer page on www.moodys.com, for each of the ratings covered, most updated credit rating action, rating history, and Credit Rating action Press Release including the rating rationale and factors that could lead to a rating upgrade or downgrade.List of Issuers/Rated Entities
- AcadeMir Charter School West, FL
- Academy for Academic Excellence, CA- Advantage Academy of Hillsborough, Inc., FL- Advantage Academy of Pinellas, Inc. d/b/a Pinellas Academy of Math and Science, FL- Alturas International Academy, ID- American Academy, CO- Anser of Idaho, Inc., ID- Aspen View Academy, CO- Banning Lewis Ranch Academy, CO- Bella Mente Montessori Academy, CA- Benjamin Franklin Charter School - Queen Creek, AZ- Charter Day School, Inc., NC- Cherry Creek Academy, CO- Compass Academy Charter School, TX- Cumberland Academy, TX- Doral Academy of Northern Nevada- DSST Public Schools, CO- El Paso Education Initiative, Inc., TX- Eno River Academy, NC- Entheos Academy, UT- Faith Family Academy, TX- Future Public School, ID- Galileo School for Gifted Learning, FL- GEM Prep: Meridian, ID- GEM Prep: Nampa, ID- GEM Prep: Pocatello, ID- Global Outreach Charter Academy, FL- Golden View Classical Academy, CO- Great Hearts America - Texas, TX- Harmony Public Schools, TX- High Point Academy, CO- High Point Academy, South Carolina- High Tech High, CA- Imagine International Academy of North Texas, TX- Imagine School at Broward, Inc- Imagine School at Land O'Lakes, FL- International Leadership of Texas, TX- Jersey City Community Charter School, NJ- Jubilee Academic Center- KIPP Charlotte, Inc., NC- KIPP Indianapolis, Inc. Project, IN- Leadership Prep School, TX- Learning Gate Community School, Inc- Legacy Traditional Schools, AZ- Lehigh Valley Academy Regional Charter School- Littleton Academy, CO- Liza Jackson Preparatory School, Inc., FL- Lowcountry Leadership Charter School, SC- Lutz Preparatory School, Inc., FL- Metropolitan Lighthouse Charter School, NY- Miami Community Charter Schools, Inc., FL- Odyssey Charter School Inc., FL- Pharos Academy Charter School- Piedmont Community Charter School, NC- Pineywoods Community Academy, TX- Prospect Ridge Academy, CO- Providence Hall Charter School, UT- Reid Traditional Schools, AZ- Renaissance Academy, UT- River City Education Management, LLC (FL)- River Springs Charter School, CA- Rocky Mountain Classical Academy, CO- Rocky Mtn School of Expdty Learning, CO- Russell Byers Charter School, PA- Science Technology Engineering and Math (STEM) School, CO- Spectrum Academy Charter School, UT- Spokane International Academy, WA- Stargate Charter School, CO- Summit Public Schools Obligated Group, CA- Thomas MacLaren State Charter School, CO- True North Rochester Prep. Charter School, NY- Two Rivers Public Charter School, Inc., DC- Union Colony Schools, CO- Uplift Education, TX- Vanguard Academy, Inc., TX- Vega Collegiate Academy, CO- Viera Chter Sch, Inc., FL- Vista at Entrada School of Performing Arts and Technology, UT- Voyager Foundation, Inc., NC- West Ridge Academy, CO- Westgate Community School, CO- Windsor Charter Academy, CO- YES Prep Public Schools, TX
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
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