Southern Kern USD, CA Outlook Revised To Positive Due To Recovery Plan

CENTENNIAL (S&P Global Ratings) Aug. 27, 2021--S&P Global ratings revised its outlook to positive from stable and affirmed its 'A-' long-term rating on Southern Kern Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its 'A-' long-term rating on the district's anticipated $1.2 million series A 2021 GO refunding bonds and $6.5 million series B 2021 GO refunding bonds. The outlook revision reflects the district's implementation of a budgetary recovery plan with assistance from the district's immediate oversight entity, the Kern County Superintendent of Schools (KCSOS), resulting in positive operating results in fiscal 2020 and 2021. With these results, the district anticipates strong available reserves in 2021. "We could raise the rating

...August 27, 2021 CENTENNIAL (S&P Global Ratings) Aug. 27, 2021--S&P Global ratings revised its outlook to positive from stable and affirmed its 'A-' long-term rating on Southern Kern Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its 'A-' long-term rating on the district's anticipated $1.2 million series A 2021 GO refunding bonds and $6.5 million series B 2021 GO refunding bonds. The outlook revision reflects the district's implementation of a budgetary recovery plan with assistance from the district's immediate oversight entity, the Kern County Superintendent of Schools (KCSOS), resulting in positive operating results in fiscal 2020 and 2021. With these results, the district anticipates strong available reserves in 2021. "We could raise the rating should the district continue to demonstrate budgetary discipline and fiscal 2021 and 2022 audited results produce strong available reserves," said S&P Global Ratings credit...

Ratings Action