News Column

Fitch: Accreditation Extension Proposal Positive for San Francisco Community College District

June 20, 2014



NEW YORK--(BUSINESS WIRE)-- A recent proposal to extend the length of an accreditation review is a positive for San Francisco Community College District (the district), Fitch Ratings says. On June 11 the Western Association of Schools and Colleges' Accrediting Commission for Community and Junior Colleges (ACCJC) announced a proposed policy change that would provide the district with an additional two years to complete reforms necessary for maintenance of its accreditation. The revision follows mounting political pressure on the ACCJC to defer its earlier decision to terminate the district's accreditation effective July 2014.

Fitch views two additional recent developments as positive for the district. On June 13 a hearing panel convened by the ACCJC acknowledged the district's progress towards meeting accreditation standards and called for a new review of the district that would consider recent reforms. The district's financial prospects have also improved following the state legislature's adoption of a provision to stabilize district funding over the next several years despite recent enrollment declines.

Fitch currently rates the district's general obligation bonds 'BBB+' with a Negative Outlook. Fitch expects to review the impact of these developments on the district's Outlook once there is more certainty about the policy change. Additional information is available in Fitch's March 24 press release, 'Fitch Affirms San Francisco Community College District's (CA) GOs at 'BBB+'; Outlook Negative', available at www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE '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 ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Stephen Walsh

Director

+1-415-732-7573

Fitch Ratings, Inc.

650 California Street, 4th Floor

San Francisco, CA 94108

or

Karen Ribble

Senior Director

+1-415-732-5611

or

Media Relations

Elizabeth Fogerty, New York, +1-212-908-0526

elizabeth.fogerty@fitchratings.com

Source: Fitch Ratings


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