S&P Global Ratings assigned its ?A-? rating to Lane County Unified School District No. 482 (Dighton), Kan.?s series 2019 general obligation bonds. The outlook is stable. The district?s bonds are secured by an unlimited pledge of ad valorem taxes levied on all eligible property within the district?s boundaries. Our view of the school district?s creditworthiness is driven by a manageable debt burden with rapid amortization and a local economy that has above average economic metrics for its rating level despite a concentrated tax base and significant presence in industries we consider volatile. The rating is constrained by our view of the district?s reserves, which are reported on a cash basis, and recent performance which has seen depletions in cash due
