Fitch Withdraws Rating on Brighter Choice Charter Middle Schools, NY

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has withdrawn the 'C' rating on the following bonds issued on behalf of the Brighter Choice Charter Middle School for Boys and the Brighter Choice Charter Middle School for Girls, New York (BCCMS):

--$15 million Industrial Development Authority of the City of Phoenix, Arizona educational facility revenue bonds (Brighter Choice Foundation Charter Middle Schools project), series 2012.

Fitch is withdrawing the rating as the Brighter Choice Foundation (guarantor) has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the rating. Accordingly, Fitch will no longer provide a rating or analytical coverage for BCCMS.

Additional information is available at www.fitchratings.com.

Applicable Criteria

Charter School Rating Criteria (pub. 05 Nov 2015)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=872774

Revenue-Supported Rating Criteria (pub. 16 Jun 2014)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=750012

Additional Disclosures

Dodd-Frank Rating Information Disclosure Formhttps://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1001109

Solicitation Statushttps://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1001109

Endorsement Policyhttps://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160317006226/en/

Fitch Ratings
Primary Analyst:
Tipper Austin, +1-212-908-9199
Associate Director
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10025
or
Secondary Analyst:
Susan Carlson, +1-312-368-2092
Director
or
Committee Chairperson:
Joanne Ferrigan, +1-212-908-0723
Senior Director
or
Elizabeth Fogerty, +1-212-908-0526
New York
[email protected]

Source: Fitch Ratings

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