Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A' from 'A-' on Burton Elementary School District, Calif.'s existing certificates of participation (COPs) based on our view of the district's improved financial management practices and consistently strong reserve levels. At the same time, Standard&Poor's assigned its 'A' long-term rating on the district's series 2013 COPs. The outlook on all ratings is stable. The rating further reflects our view of the district's: Primarily residential tax base and role as a bedroom community for Porterville; Strong income indicators on a household basis; and Low to moderate overall debt burden. Partially offsetting these strengths is our view of the district's high unemployment and low market value per capita. Lease
