SAN FRANCISCO (Standard&Poor's) Feb. 2, 2009--Standard&Poor's Ratings Services assigned its 'A+' rating to McKinleyville Union School District, Calif.'s series 2008A general obligation bonds. The outlook is stable. "The rating reflects our view of the district's consistently good financial performance, with reserves of 14%, and low overall debt burden," said Standard&Poor's credit analyst Shannon Groff. In our opinion, tempering factors include the limited regional economy and steadily declining average daily attendance, which drives per-student funding, but in our view management has a positive record to date of adjusting staffing and facilities to meet this trend. Proceeds from the bonds will be used to renovate and modernize district facilities. The district serves residents of the unincorporated
