...S&P Global Ratings assigned its 'A+' long-term rating to the Canadian County Educational Facilities Authority, Okla.'s series 2017 educational facilities lease revenue bonds issued on behalf of Canadian County Independent School District (ISD) No. 69 (Mustang). At the same time, we affirmed our 'A+' long-term rating on the authority's other outstanding educational facilities lease revenue bonds supported by the district, and our '##-' long-term rating on the district's outstanding GO bonds. The outlook is stable. The district's lease revenue bonds are rated one notch below the GO rating, reflecting the pledge to annually appropriate a sufficient amount of lawfully available revenue from the district's general fund or building fund to make lease rental payments. Officials will use GO bond proceeds to repay lease revenue bonds outstanding, but proceeds of those future GO issues are not pledged as security for the lease revenue bonds. The district's ability to make lease purchase payments...
