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U.S. Charter School Ratings And Outlooks: Current List

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U.S. Charter School Ratings And Outlooks: Current List

As of April 30, 2020, S&P Global Ratings had 286 public ratings on charter schools across the country. Approximately 52% of our ratings are either 'BBB-' (87, or 30%) or 'BB+' (63, or 22%, see chart 1), and currently, 85% of the ratings carry a stable outlook, while 43, or 15%, have negative outlooks. The list below reflects the number of obligated groups issuing rated debt, and not the number of schools or networks. All ratings are based on our "U.S. Public Finance Charter Schools: Methodology And Assumptions" criteria, published Jan. 3, 2017.

Chart 1

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Table 1

U.S. Charter School Ratings As Of April 30, 2020
Entity State Rating Outlook

Idea Public Schools

Texas A- Stable

Peak to Peak Charter Sch - Prairie View Inc.

Colorado BBB+ Stable

Newark Charter School, Inc.

Delaware BBB+ Stable

KIPP DC

District Of Columbia BBB+ Stable

Global Concepts Charter School

New York BBB+ Stable

KIPP Texas, Inc.

Texas BBB+ Stable

Center for Academic Success, Inc.

Arizona BBB Stable

Alliance for College - Ready Public Schools - Series 2015, 2016, 2019 Obligated Group

California BBB Stable

Alliance for College - Ready Public Schools - Gertz-Ressler Richard Merkin 6-12 Complex

California BBB Negative

Aspire Public Schools

California BBB Negative

KIPP SoCal Public Schools

California BBB Stable

Kipp Bay Area Schools

California BBB Stable

Castle Rock Lifelong Learning Center

Colorado BBB Negative

Classical Academy Charter School

Colorado BBB Stable

Flagstaff Academy

Colorado BBB Negative

Independence Academy

Colorado BBB Stable

James Irwin Charter Schools

Colorado BBB Stable

Littleton Academy Charter School

Colorado BBB Stable

District of Columbia International School

District Of Columbia BBB Stable

Friendship Public Charter School, Inc.

District Of Columbia BBB Stable

Bay Haven Charter Academy, Inc.

Florida BBB Stable

Pinecrest Academy, Inc.

Florida BBB Stable

Liberty Charter School, Nampa

Idaho BBB Stable

Xavier Public Charter School

Idaho BBB Stable

Chicago Charter School Foundation

Illinois BBB Stable

Noble Network of Charter Schools

Illinois BBB Stable

Star International Academy

Michigan BBB Stable

KIPP TEAM Academy

New Jersey BBB Stable

The Charter School for Applied Technologies

New York BBB Stable

Harmony Public Schools

Texas BBB Stable

Responsive Education Solutions

Texas BBB Stable

Trinity Basin Preparatory

Texas BBB Stable

American Leadership Academy

Utah BBB Stable

Hawthorn Academy

Utah BBB Stable

Navigator Pointe Academy

Utah BBB Stable

Hmong American Peace Academy

Wisconsin BBB Stable

Candeo Schools, Inc.

Arizona BBB- Stable

GreatHearts Arizona

Arizona BBB- Stable

Harvest Preparatory Academy

Arizona BBB- Negative

Villa Montessori, Inc.

Arizona BBB- Stable

American Heritage Education Foundation

California BBB- Stable

Coastal Academy Charter School Inc.

California BBB- Stable

Granada Hills Charter Obligated Group

California BBB- Stable

Green Dot Public Schools

California BBB- Stable

Literacy First Charter School

California BBB- Stable

Ben Franklin Academy

Colorado BBB- Stable

Cheyenne Mtn Charter Academy

Colorado BBB- Negative

DCS Montessori Charter School

Colorado BBB- Stable

Excel Academy Charter School

Colorado BBB- Stable

Frontier Academy

Colorado BBB- Stable

Liberty Common Charter School

Colorado BBB- Stable

Lincoln Academy Charter School

Colorado BBB- Stable

North Star Academy

Colorado BBB- Stable

Pinnacle Charter School

Colorado BBB- Stable

Platte River Acad Charter School

Colorado BBB- Stable

University Laboratory School

Colorado BBB- Stable

Campus Community School

Delaware BBB- Stable

Delaware Military Academy

Delaware BBB- Negative

First State Montessori Academy Charter School

Delaware BBB- Stable

Choices in Learning Elementary Charter School

Florida BBB- Stable

Cornerstone Schools

Florida BBB- Stable

Doral Academy Inc.

Florida BBB- Stable

Sarasota School of Arts & Sciences

Florida BBB- Stable

Sculptor Charter School

Florida BBB- Stable

Idaho Arts Charter School

Idaho BBB- Stable

Victory Charter School

Idaho BBB- Stable

Foxborough Regl Charter School

Massachusetts BBB- Stable

Sabis International Charter School

Massachusetts BBB- Stable

Chandler Park Academy

Michigan BBB- Stable

Creative Montessori Academy

Michigan BBB- Negative

Oakland International Academy

Michigan BBB- Stable

Richfield Public School Academy

Michigan BBB- Stable

Community of Peace Academy

Minnesota BBB- Stable

Higher Ground Academy

Minnesota BBB- Negative

Math & Science Academy Building Company

Minnesota BBB- Stable

Nova Classical Academy

Minnesota BBB- Stable

PACT Charter School

Minnesota BBB- Stable

Coral Academy of Science-Las Vegas

Nevada BBB- Stable

Explore Knowledge Foundation

Nevada BBB- Stable

Foundation Academy Charter School

New Jersey BBB- Stable

North Star Academy Charter School of Newark

New Jersey BBB- Stable

Bronx Charter Sch for Excellence

New York BBB- Stable

Riverhead Charter School

New York BBB- Stable

Lake Norman Charter School

North Carolina BBB- Stable

Mountain Island Charter School, Inc.

North Carolina BBB- Stable

Avon Grove Charter School

Pennsylvania BBB- Stable

MaST Community Charter School

Pennsylvania BBB- Stable

Propel Charter Schools - East

Pennsylvania BBB- Negative

Propel Charter Schools - McKeesport

Pennsylvania BBB- Negative

Propel Charter Schools - Montour

Pennsylvania BBB- Negative

Renaissance Academy Charter School

Pennsylvania BBB- Stable

School Lane Charter School

Pennsylvania BBB- Stable

KIPP Nashville

Tennessee BBB- Stable

A+ Charter School Inc

Texas BBB- Stable

Arlington Classics Academy

Texas BBB- Stable

Braination, Inc.

Texas BBB- Stable

Eagle Advantage Schools, Inc.

Texas BBB- Negative

Golden Rule School, Inc.

Texas BBB- Stable

Life School of Dallas

Texas BBB- Stable

Orenda Education

Texas BBB- Stable

Riverwalk Education Foundation Inc

Texas BBB- Negative

Ser-Ninos, Inc.

Texas BBB- Stable

Uplift Education

Texas BBB- Stable

DaVinci Academy of Science & the Arts

Utah BBB- Stable

George Washington Academy

Utah BBB- Stable

Karl G. Maeser Preparatory Academy

Utah BBB- Stable

Lakeview Academy

Utah BBB- Stable

Legacy Preparatory Academy

Utah BBB- Stable

Lincoln Academy

Utah BBB- Stable

Monticello Academy

Utah BBB- Stable

Mountainville Academy

Utah BBB- Stable

Noah Webster Academy

Utah BBB- Stable

North Davis Preparatory Academy

Utah BBB- Negative

North Star Academy

Utah BBB- Stable

Ogden Preparatory Academy

Utah BBB- Stable

Providence Hall

Utah BBB- Stable

Quest Academy

Utah BBB- Stable

Summit Academy

Utah BBB- Stable

Syracuse Arts Academy

Utah BBB- Stable

Utah Charter Academies, Inc.

Utah BBB- Stable

Venture Academy

Utah BBB- Stable

Vista at Entrada Charter School

Utah BBB- Stable

Milwaukee Academy of Science

Wisconsin BBB- Stable

American Charter Schools Foundation

Arizona BB+ Stable

Arizona Agribusiness & Equine Center Inc.

Arizona BB+ Negative

Arizona School for the Arts

Arizona BB+ Stable

Eagle South Mountain Property

Arizona BB+ Stable

Freedom Academy

Arizona BB+ Stable

Horizon Community Learning Center

Arizona BB+ Negative

Paradise Education Center

Arizona BB+ Stable

Caliber Public Schools

California BB+ Stable

Classical Academy, Inc.

California BB+ Stable

Fenton Charter Public Schools

California BB+ Stable

Grimmway Schools

California BB+ Stable

King Chavez Academies

California BB+ Stable

New Designs Charter School

California BB+ Stable

Rocklin Academy

California BB+ Stable

Santa Rosa Academy Inc.

California BB+ Stable

Value Schools

California BB+ Stable

Vista Charter Middle School

California BB+ Stable

Community Leadership Academy

Colorado BB+ Stable

Eagle Ridge Academy Inc.

Colorado BB+ Stable

Littleton Preparatory Charter Sch

Colorado BB+ Stable

Monument Academy

Colorado BB+ Negative

Twin Peaks Charter Academy

Colorado BB+ Negative

Acero Charter School Inc.

Illinois BB+ Stable

Cesar Chavez Academy

Michigan BB+ Stable

Holly Academy

Michigan BB+ Stable

Universal Academy

Michigan BB+ Stable

Universal Learning Academy

Michigan BB+ Stable

Cologne Academy

Minnesota BB+ Stable

Eagle Ridge Academy

Minnesota BB+ Stable

Educational Properties TCGIS, LLC

Minnesota BB+ Negative

Hmong Education Reform Company

Minnesota BB+ Stable

Lakes International Language Academy

Minnesota BB+ Stable

Noble Academy

Minnesota BB+ Stable

Spectrum High School

Minnesota BB+ Negative

St Croix Preparatory Academy

Minnesota BB+ Stable

St. Paul Conservatory for Performing Arts

Minnesota BB+ Negative

Duluth Edison Charter Schools (Tischer Creek Duluth Building Co.)

Minnesota BB+ Stable

Yinghua Building Corporation

Minnesota BB+ Stable

Allen Village School

Missouri BB+ Stable

Scuola Vita Nuova Charter School

Missouri BB+ Stable

Doral Academy of Nevada - Fire Mesa & Red Rock Campus Series 2019A

Nevada BB+ Stable

Doral Academy of Nevada - Saddle & Cactus Series 2017

Nevada BB+ Stable

Pinecrest Academy of Nevada

Nevada BB+ Negative

South Bronx Charter School for International Cultures & the Arts

New York BB+ Stable

Tapestry Charter School

New York BB+ Stable

Pine Lake Preparatory

North Carolina BB+ Stable

Chester Charter Scholars Academy Charter School

Pennsylvania BB+ Stable

Discovery Charter Sch

Pennsylvania BB+ Negative

First Philadelphia Preparatory Charter School

Pennsylvania BB+ Stable

KIPP Philadelphia Charter School

Pennsylvania BB+ Stable

Propel Schools - Braddock Hills

Pennsylvania BB+ Negative

Tacony Academy Charter School

Pennsylvania BB+ Stable

Blackstone Valley Prep Academy

Rhode Island BB+ Stable

Palmetto Scholars Academy

South Carolina BB+ Stable

Cityscape Schools Inc.

Texas BB+ Stable

Compass Academy Charter School Inc.

Texas BB+ Stable

Faith Family Charter School

Texas BB+ Stable

Meridian World School

Texas BB+ Stable

New Frontiers Public Schools

Texas BB+ Negative

Wayside Schools

Texas BB+ Stable

Entheos Acad

Utah BB+ Stable

Spectrum Academy

Utah BB+ Stable

Wasatch Peak Academy

Utah BB+ Stable

Academies of Math and Science

Arizona BB Stable

Arizona Autism Charter School

Arizona BB Stable

BASIS Schools Inc.

Arizona BB Stable

Choice Academies, Inc.

Arizona BB Stable

Kaizen Education Foundation

Arizona BB Negative

Noah Webster Basic Schools, Inc.

Arizona BB Stable

Albert Einstein Academies

California BB Stable

ICEF View Park Preparatory Accelerated Charter High School

California BB Stable

ICEF View Park Preparatory Accelerated Charter Middle and Elementary School

California BB Stable

John Adams Academies Inc.

California BB Negative

MPM Sherman Way LLC

California BB Stable

Nova Academy

California BB Stable

PUC Schools

California BB Stable

Palmdale Aerospace Academy (The)

California BB NM

River Charter Schools

California BB Stable

River Springs Charter School

California BB Stable

Aspen Ridge Preparatory School

Colorado BB Stable

Loveland Classical Schools

Colorado BB Stable

SkyView Academy

Colorado BB Stable

ASPIRA of Delaware Charter Operations, Inc.

Delaware BB Negative

Terrace Community Middle School

Florida BB Stable

Compass Public Charter School

Idaho BB Stable

Avondale Meadows Academy

Indiana BB Negative

Advanced Tech Academy

Michigan BB Stable

Dr. Joseph F. Pollack Academic Center of Excellence

Michigan BB Stable

Flint International Academy

Michigan BB Negative

Grand Traverse Academy

Michigan BB Stable

Hanley International Academy

Michigan BB Stable

Landmark Academy

Michigan BB Stable

Renaissance Public School Academy

Michigan BB Negative

Summit Academy North

Michigan BB Stable

Trillium Academy

Michigan BB Stable

Academia Cesar Chavez

Minnesota BB Stable

Hope Community Academy

Minnesota BB Stable

Parnassus Preparatory School

Minnesota BB Stable

Twin Cities Academy

Minnesota BB Stable

Brookside Charter School

Missouri BB Stable

Mater Academy of Nevada

Nevada BB Stable

Nevada Charter Academies, d/b/a American Preparatory Academy- Las Vegas

Nevada BB Stable

Somerset Academy of Las Vegas - Series 2015 and 2018 Obligated Group

Nevada BB Stable

Somerset Academy of Las Vegas - Series 2019 Lone Mountain

Nevada BB Stable

Friends of Teaneck Community Charter School

New Jersey BB Stable

Albuquerque School of Excellence

New Mexico BB Stable

Albany Leadership Charter High School For Girls

New York BB Stable

Charter School of Educational Excellence

New York BB Stable

Collegium Charter School

Pennsylvania BB Stable

Green Woods Charter School

Pennsylvania BB Stable

Mariana Bracetti Academy Charter School

Pennsylvania BB Stable

Philadelphia Performing Arts Charter School

Pennsylvania BB Stable

West Philadelphia Achievement Charter Elementary School

Pennsylvania BB Stable

Jubilee Academic Center, Inc.

Texas BB Stable

Leadership Preparatory School

Texas BB Stable

Nova Academy

Texas BB Stable

NYOS Charter Sch, Inc.

Texas BB Stable

Odyssey Academy, Inc.

Texas BB Stable

Village Tech Schools

Texas BB Stable

Channing Hall Charter School

Utah BB Stable

Early Light Academy

Utah BB Stable

Itineris Early College High School

Utah BB Stable

Paradigm High School

Utah BB Stable

Ronald Wilson Reagan Academy

Utah BB Stable

Salt Lake Arts Academy

Utah BB Stable

Career Success Schools

Arizona BB- Stable

Edkey Inc.

Arizona BB- Stable

Odyssey Preparatory Academy

Arizona BB- Stable

Urban Discovery Academy

California BB- Stable

Collegiate Academy Charter School

Colorado BB- Stable

Lee County Charter Schools

Florida BB- Stable

Discovery Charter School

Indiana BB- Stable

Crossroads Charter Academy

Michigan BB- Negative

New Branches Charter Academy

Michigan BB- Stable

Old Redford Academy

Michigan BB- Negative

KIPP North Star Academy

Minnesota BB- Stable

Kaleidoscope Charter School

Minnesota BB- Stable

Prairie Seeds Academy

Minnesota BB- Negative

LEAP Academy University Charter School

New Jersey BB- Stable

Paterson Charter School for Science & Technology

New Jersey BB- Stable

Global Leadership Academy Charter School

Pennsylvania BB- Stable

A.W. Brown Fellowship Charter School

Texas BB- Stable

School of Excellence in Education

Texas BB- Stable

Texas Leadership Charter Academy

Texas BB- Stable

Winfree Academy Charter Schools

Texas BB- Stable

Julian Charter School

California B+ Stable

Rocky Mountain Academy of Evergreen

Colorado B+ Stable

21st Century Charter School

Indiana B+ Stable

Summit Academy

Michigan B+ Negative

Universal Academy (LTTS Charter School, Inc.)

Texas B+ Stable

Pointe Educational Services

Arizona B Negative

Thea Bowman Leadership Academy

Indiana B Stable

Conner Creek Academy East

Michigan B Stable

Detroit Service Learning Academy

Michigan B Stable

Saginaw Preparatory Academy

Michigan B NM

High School for Recording Arts

Minnesota B Stable

Evolution Academy Charter School

Texas B Stable

Cesar Chavez Public Charter School

District Of Columbia B- Negative

Detroit Community Schools

Michigan B- Negative

Voyageur Academy

Michigan B- Stable

New Millenium Academy

Minnesota B- Stable

Children of Promise Preparatory Academy

California CCC+ Negative

Plymouth Educational Center Charter School

Michigan D NM
NM--Not meaningful.

Related Research

This report does not constitute a rating action.

Primary Credit Analysts:Jessica L Wood, Chicago + 1 (312) 233 7004;
jessica.wood@spglobal.com
Peter V Murphy, New York (1) 212-438-2065;
peter.murphy@spglobal.com
Secondary Contacts:Avani K Parikh, New York (1) 212-438-1133;
avani.parikh@spglobal.com
Beatriz Peguero, New York (1) 212-438-2164;
beatriz.peguero@spglobal.com
Shivani Singh, New York (1) 212-438-3120;
shivani.singh@spglobal.com
Research Assistant:Mikayla Mahan, Centennial

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