Bangkok--10 Mar--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Sheridan County School District, No.1, Wyo.'s series 2009 general obligation (GO) bonds. The outlook is stable.
"The rating reflects our view of the district's strong unreserved fund balances, low overall debt burden, and highly residential tax base," said Standard & Poor's credit analyst Lisa Schroeer. "A mitigating factor is the small number of total students, because even small fluctuations in attendance can impact the district's revenues."
Management noted some jobs have been lost, primarily in the oil and gas and likely related to employment in Sheridan. Nonetheless, management does expect that enrollment will continue to grow during the next several years, due to developments in the area that are still moving forward. Fluctuations in student levels would affect the amount of revenue from the state, thus in our opinion it will be important for the district's financial stability closely follow and respond to any changes in the enrollment levels.
The district, with an estimated population of about 4,200, encompasses 932 square miles and serves students from the communities of Big Horn, Dayton, Ranchester, Parkman and surrounding areas. It is in the north central portion of the state with Wyoming/Montana border on its northern boundary.
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Lisa Schroeer, San Francisco (1) 415-371-5006
Gabriel Petek, CFA, San Francisco (1) 415-371-5042