CHICAGO (Standard&Poor's) Feb. 4, 2005—Standard&Poor's Ratings Services has assigned its 'A' Standard&Poor's underlying rating (SPUR) to Lake Orion Community School District, Mich.'s unlimited-tax general obligation refunding bonds series 2005. The 'AA+' long-term rating reflects the district's qualification for participation in the Michigan State School Bond Loan Fund program. The bonds are scheduled to sell on Feb. 7. The outlook is stable. At the same time, the rating agency affirmed its 'A' SPUR on the district's outstanding general obligation bonds. The 'A' SPUR reflects the district's primarily residential status in Oakland County, with the local economy anchored by a General Motors Corp. facility; steady and consistent tax base growth; above-average wealth and income levels; and
