The upgrade to 'AA-' from 'A+' on Kentwood Public Schools, Mich.'s GO bonds is due to the presence of a strong management team that has controlled costs while providing quality education, and continued growth of the district's tax base. Additional credit characteristics include: A local employment base anchored by Steelcase Inc., in addition to a diverse mix of commercial and industrial employment within the district; Access to the wider Kent County economic base; Stable financial operations with sufficient reserves; and Limited capital needs going forward, with the presence of a sinking fund levy that provides the district with funding for ongoing capital maintenance. Kentwood Public Schools is located in the southeast portion of the Grand Rapids area. The district's population,
