Bangkok--14 Jan--Standard & Poor's
Standard & Poor's Ratings Services raised its school district issuer credit rating (ICR) to 'AA-' from 'A' on Douglas County School District, Nev.'s outstanding general obligation (GO) debt. In addition, Standard & Poor's assigned its 'AAA' long-term rating and 'AA-' ICR to the district's series 2009 limited tax GO bonds. Finally, Standard & Poor's affirmed its 'AAA' long-term rating on the district's outstanding GO debt. The outlook is stable.
"The raised ratings reflect the district's maintenance of good unreserved general fund balances coupled with a diverse, growing taxpayer base that supports debt service payments," said Standard & Poor's credit analyst Le T. Quach. "The 'AAA' long-term rating reflects the strength and backing of Nevada's School District Bond Guarantee Program."
The series 2009 bonds are being issued to finance facility improvements and upgrades.
Douglas County School District is coterminous with Douglas County and is located in the west-central part of Nevada. The district covers 750 miles, including the Carson Valley and the southeastern portion of Lake Tahoe.
Complete ratings information is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; select your preferred country or region, then Ratings in the left navigation bar, followed by Find a Rating.
Media Contact:
Edward Sweeney, New York (1) 212-438-6643, [email protected]
Analyst Contacts:
Le T Quach, San Francisco (1) 415- 371-5013
Ian Carroll, San Francisco (1) 415-371-5060
Key Contacts:
Americas Media Relations: (1) 212-438-6667
media_ [email protected]
Americas Customer Service: (1) 212-438-7280
[email protected]