Standard&Poor's Ratings Services assigned its 'AA-' rating to Canadian County Independent School District No. 69 (Mustang), Okla.'s series 2015 GO combined-purpose bonds general obligation (GO) debt. At the same time, Standard&Poor's affirmed its 'AA-' rating on the district's parity GO bonds outstanding and the 'A+' rating on Canadian County Educational Facilities Authority's educational facilities lease revenue bonds, supported by the district. The outlook on all ratings is negative. The negative outlook reflects our assessment of the district's deteriorating reserves and delayed projections to rebuild reserve to its informal target due to cuts in state aid and rising expenditures associated with rapid enrollment growth. The rating reflects our opinion of the district's: Inclusion in the diverse Oklahoma
