Fitch Affirms 'A' Rating on Del Mar College District, Texas Revenue Bonds.AUSTIN, Texas -- Fitch affirms the 'A' rating on Del Mar College Del Mar College is a community college in Corpus Christi, Texas. About Del Mar College Founded in 1935, the institution is a comprehensive community college. The College encompasses two primary campuses and one campus annex with combined physical assets of more than $99 District (the district), Texas' approximately $9.7 million outstanding combined fee revenue bonds. The bonds are secured by 25% of tuition charges, a building use fee, a matriculation ma·tric·u·late tr. & intr.v. ma·tric·u·lat·ed, ma·tric·u·lat·ing, ma·tric·u·lates To admit or be admitted into a group, especially a college or university. n. fee charged to students on the tuition bill, and interest earnings on certain district funds. The Rating Outlook is Stable. The 'A' rating is based on the district's historically positive financial performance enhanced by an operations and maintenance tax, increasing headcount, and moderate debt burden with no additional revenue bond borrowing planned. Also considered in the rating is the district's susceptibility susceptibility the state of being susceptible. Refers usually to infectious disease but may be to physical factors such as wetting or to psychological factors such as harassment. to state funding declines and the small percentage of total revenues pledged for bond repayment. For more information on the district, see the press release dated Dec. 29, 2005, available on the Fitch web site at www.fitchratings.com. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria, and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance, and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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