Bangkok--25 Mar--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Stillwater County High School District No. 6 (Columbus), Mont.'s general obligation (GO) refunding bonds, series 2009. The outlook is stable.
"The rating reflects a limited economy that is centered around mining and agriculture for an area with good income levels and below-average unemployment rates," said Standard & Poor's credit analyst Li Yang. "In addition, the district has healthy reserves, good financial performance, and a low debt burden."
The Stillwater County Elementary School District No.6 (Columbus) and the Stillwater County High School District No.6 (Columbus) are separate legal and financial entities that maintain separate operating and capital budgets. Co-mingling of funds is prohibited. However, the two districts' audited financial statements are reported only on a combined basis. The boundaries for the two districts are coterminous and they operate under the same management.
Located in south central Montana in Stillwater County, the district serves an estimated population of 3,400 residents in and around the Town of Columbus, the county seat. The district is located adjacent to Interstate 90, west of the City of Billings, the largest city in Montana based on population. It is our understanding from management that it is common for residents to travel the 42 miles on Interstate 90 to Billings for work.
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Li H Yang, San Francisco 1-415-371-5024
Misty Newland, San Francisco (1) 415-371-5073