...CENTENNIAL (S&P Global Ratings) June 9, 2017--S&P Global Ratings assigned its 'A+' long-term rating to Armona Union Elementary School District (Kings County), Calif.'s election of 2016, series A general obligation (GO) bonds and election of 2004, series B GO bonds. The outlook is stable. The GO bonds are secured by a pledge of ad valorem property taxes levied on taxable property within the district. Bond proceeds will be used to finance school construction and improvements as approved by district voters. "The rating reflects our view of the district's extremely strong market value per capita, maintenance of very strong available reserve levels, and low overall debt burden as a percentage of market value," said S&P Global Ratings credit analyst Kaila Spalinger. The stable outlook reflects our view of the district's stable and very strong financial position, which we expect the district will maintain. In addition, due to the cyclical nature of the surrounding economy, we do not expect to...
