Bangkok--3 Feb--Standard & Poor's
CHICAGO (Standard & Poor's) Feb. 2, 2015--Standard & Poor's Ratings Servicesraised its long-term rating to 'AA' from 'AA-' on Independence Local SchoolDistrict, Ohio's general obligation (GO) debt. The outlook is stable.
"The rating action reflects our view of the district's stronger financialposition, bolstered by consecutive surpluses in recent years and management'sprojections of positive operations through fiscal 2017," said Standard &Poor's credit analyst Jennifer Boyd.
The stable outlook reflects our anticipation that the district will maintainat least strong cash reserves despite a history of mixed voter support.