Fitch Ratings has assigned an 'A' rating to the following Colorado Educational and Cultural Facilities Authority (the authority) charter school revenue bonds issued on behalf of Pinnacle Charter School, Inc. (Pinnacle, or the school).--$12.8 million series 2009 (Pinnacle Charter School, Inc. High School Project); --$20.4 million series 2003 (Pinnacle Charter School, Inc. Project).The series 2009 bonds are expected to sell via negotiation on or about Dec. 22. The Rating Outlook is Stable.RATING RATIONALE.--The 'A' rating is based on Pinnacle's participation in Colorado's (the state's) Moral Obligation Program.--Under the Moral Obligation Program, if a charter school draws down its debt
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