Denair Unified School District, CA GO Debt Rating Outlook Revised To Positive On Likely Sustainable Higher Reserves

SAN FRANCISCO (S&P Global Ratings) Dec. 5, 2024--S&P Global Ratings revised its outlook to positive from stable and affirmed its 'A-' long-term rating and underlying rating (SPUR) on Denair Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, we assigned our 'A-' long-term rating, with a positive outlook, to the district's series 2024 (also election of 2024) GO bonds, with a par amount of approximately $12.8 million. "The outlook revision reflects our view of the district's fiscal 2024 unaudited figures showing a substantial increase in reserves after a four-year trough of less than 8% of revenue," said S&P Global Ratings credit analyst Chris Morgan, "and a stable state funding environment and a slow rise in the

...December 5, 2024 SAN FRANCISCO (S&P Global Ratings) Dec. 5, 2024--S&P Global Ratings revised its outlook to positive from stable and affirmed its 'A-' long-term rating and underlying rating (SPUR) on Denair Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, we assigned our 'A-' long-term rating, with a positive outlook, to the district's series 2024 (also election of 2024) GO bonds, with a par amount of approximately $12.8 million. "The outlook revision reflects our view of the district's fiscal 2024 unaudited figures showing a substantial increase in reserves after a four-year trough of less than 8% of revenue," said S&P Global Ratings credit analyst Chris Morgan, "and a stable state funding environment and a slow rise in the district's student population, which generates revenue under the state formula, create the conditions for the district to consolidate these gains." The rating reflects the application of our "Methodology for Rating U.S....

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