กรุงเทพฯ--19 มิ.ย.--Standard & Poor's
CHICAGO (Standard & Poor's) June 18, 2014--Standard & Poor's Ratings Servicesraised its school issuer credit rating (ICR) to 'AA-' from 'A+' on FillmoreCentral Independent School District No. 2198, Minn.'s existing generalobligation (GO) debt. At the same time, Standard & Poor's assigned its 'AA+'school program rating and 'AA-' school ICR to the district's series 2014A GOalternative and capital facilities bonds. The outlook on all ratings isstable.
"The raised rating reflects our opinion of the substantial increase in thedistrict's general fund reserve levels," said Standard & Poor's credit analystHelen Samuelson. "The raised rating further reflects our view of thedistrict's stable enrollment," Ms. Samuelson added.
Management indicates it will use the bonds to finance a variety of capitalimprovements throughout district facilities.
The district is located about 30 miles south of Rochester and serves 4,891residents across 215 square miles in Fillmore County. Most residents commutewithin the broader Rochester economic base for employment. The district'semployment base consists mainly of agricultural- and tourism-related jobs.