S&P Global Ratings assigned its 'A+' long-term rating to Armona Union Elementary School District (Kings County), Calif.'s election of 2016, series A general obligation (GO) bonds and election of 2004, series B GO bonds. The outlook is stable. The GO bonds are secured by a pledge of ad valorem property taxes levied on taxable property within the district. Bond proceeds will be used to finance school construction and improvements as approved by district voters. The rating reflects our view of the district's: Extremely strong market value per capita, Maintenance of very strong available (assigned and unassigned) reserve levels, and Low overall debt burden as a percentage of market value. In our view, partly offsetting the above strengths are the district's
