Summary: Canadian County Independent School District No. 69 (Mustang), Oklahoma; Appropriations; General Obligation

S&P Global Ratings raised its long-term rating to 'AA' from 'AA-' on Canadian County Independent School District (ISD) No. 69 (Mustang), Okla.'s general obligation (GO) bonds and to 'AA-' from 'A+' on the Canadian County Educational Facilities Authority's educational facilities lease revenue bonds issued on behalf of the district. Finally, we assigned our 'AA' long-term rating to the district's series 2018 GO combined purpose bonds and building bonds. The outlook is stable. The rating action reflects our view of the district's improved financial performance and reserves. Revenue from the district's unlimited ad valorem tax secures the GO bonds The district's lease rental payments secure the lease revenue bonds. Revenue for lease payments primarily comes from the district's issuance of GO

...S&P Global Ratings raised its long-term rating to '##' from '##-' on Canadian County Independent School District (ISD) No. 69 (Mustang), Okla.'s general obligation (GO) bonds and to '##-' from 'A+' on the Canadian County Educational Facilities Authority's educational facilities lease revenue bonds issued on behalf of the district. Finally, we assigned our '##' long-term rating to the district's series 2018 GO combined purpose bonds and building bonds. The outlook is stable. The rating action reflects our view of the district's improved financial performance and reserves. Revenue from the district's unlimited ad valorem tax secures the GO bonds The district's lease rental payments secure the lease revenue bonds. Revenue for lease payments primarily comes from the district's issuance of GO bonds. We rate these obligations one notch lower than the district's general creditworthiness to account for the appropriation risk associated with the lease payments. The district incorporates the affordability...

Summary