CHICAGO (Standard&Poor's) Jan. 12, 2016--Standard&Poor's Ratings Services raised its underlying rating for credit program to 'A' from 'A-' on the Anchor Bay School District, Mich.'s unlimited-tax general obligation (GO) bonds. At the same time, Standard&Poor's assigned its 'A' underlying rating and 'AA-' long-term program rating to the district's series 2016A and 2016B refunding unlimited-tax GO bonds. The outlook on the underlying ratings is stable, and that on the enhanced rating is positive. "The higher rating is supported by the district's successful implementation of expense management that has led to positive operating results in recent fiscal years, rebuilding its available general fund reserves," said Standard&Poor's credit analyst Antionette Maxwell. The 'AA-' rating reflects
