NEW YORK (S&P Global Ratings) April 6, 2022--S&P Global Ratings revised its outlook on Anchor Bay School District, Mich.'s general obligation (GO) debt to stable from negative. At the same time, S&P Global Ratings affirmed its 'A-' rating on the district's GO debt. "The rating action reflects actions management has taken to return to balanced operations, coupled with the expectation of it planning to grow available reserves in coming years," said S&P Global Ratings credit analyst Michael Mooney. We have analyzed the district's environmental, social, and governance (ESG) risks. We consider long-term enrollment decreases across Michigan an increased social risk because it limits the district's revenue-raising ability. With limited exposure to adverse weather, we consider environmental risk in line with
