Fitch Rates Oklahoma School Dist Rev Anticipation Program Notes (Business Wire)

AUSTIN, Texas--(BUSINESS WIRE)--Fitch Ratings assigns a short-term rating of 'F1+' to the Oklahoma School District and County Revenue Anticipation Program's 2008A $4.8 million certificates of participation (COPs), and an 'F1' rating to the program's $1.1 million 2008B COPs. The COPs mature June 30, 2009 and are scheduled for a negotiated sale July 30, 2008. The COPs represent proportionate ownership interests in trust estates to be composed principally of certificates of indebtedness of nine Oklahoma public school districts. Oklahoma law allows districts to participate in such short-term cash management programs to alleviate projected cash deficits arising principally from timing mismatches between the receipt of property taxes and operating expenditures. The Oklahoma Commission on School and County Funds Management (the... [read full story]