S&P Global Ratings raised its long-term rating and underlying rating on Denair Unified School District ?s general obligation (GO) bonds to ?A? from ?A-?. The outlook is stable. The upgrade reflects our view of district?s sustained positive general fund net results, which have materially improved its available reserves and our view that the district is positioned to maintain available reserves in excess of 8% of revenues for the foreseeable future. The bonds are secured by revenue from an unlimited ad valorem property tax pledge. The rating reflects our view of multiple years of a strengthening financial position and strong income indicators relative to the district's overlapping county, but a tax base that isn't strong enough to allow the district to
