SAN FRANCISCO (Standard&Poor's) Sept. 9, 2011-- Standard&Poor's Ratings Services raised its long-term and underlying rating (SPUR) to 'A' from 'A-' on Napa County Board of Education, Calif.'s series 2001 certificates of participation (COPs). The outlook is stable. "The raised rating reflects our view of the board's maintenance of strong reserve levels during the past five fiscal years," said Standard&Poor's credit analyst Li Yang. "The higher rating is also supported by our view of the board's good financial management practices and the area's strong local economy and strong income indicators," Mr. Yang added. We understand the board does not plan to issue additional debt in the near term. RELATED CRITERIA AND RESEARCH USPF Criteria: Appropriation-Backed
