CHICAGO (Standard&Poor's) Aug. 19, 2009--Standard&Poor's Ratings Services has raised its issuer credit rating (ICR) on Anchor Bay School District, Mich.'s general obligation (GO) debt to 'A+' from 'A-', based on the district's very strong financial reserves despite expected general fund deficits. The outlook is stable. At the same time, the rating service assigned its 'A+' ICR to the district's $25.96 million series 2009 GO unlimited-tax refunding bonds. In Standard&Poor's opinion, the 'A+' ICR reflects the district's: Participation in the diverse Macomb County economy and access to additional employment opportunities throughout southeastern Michigan; Strong income and wealth indicators; Stable enrollment trends, which are linked to state aid; and Maintenance of a strong level of financial
