Standard&Poor's Ratings Services assigned its 'AA+' long-term rating and 'A' school issuer credit rating (ICR) to Bates County R-III School District (Adrian), Mo.'s series 2014 general obligation (GO) school refunding bonds. We also affirmed our 'AA+' rating on the district's existing GO debt. The outlook on all ratings is stable. The 'AA+' ratings are based on participation in the Missouri Direct Deposit program, in which the state makes direct deposits of portions of monthly state aid payments to a bond trustee. The 'A' school ICR reflects our view of the district's general creditworthiness, including its: Stable tax base; Incomes ranging from adequate to good, with adequate market value per capita; Strong available reserve position (albeit measured on a
