Standard&Poor's Ratings Services assigned its 'AA+' enhanced rating and stable outlook to Cass County School District R-III (Pleasant Hill), Mo.'s series 2010 general obligation (GO) refunding bonds and affirmed its 'AA+' rating, with a stable outlook, on the district's existing GO debt. The rating reflects the school district's eligibility for and participation in the Missouri Direct Deposit of State Aid Program, in which the state makes direct deposits of portions of monthly state aid payments to a bond trustee. The program, which enhances local school district GO bonds, provides for a first-dollar claim on monthly state aid, which will be directly deposited to a master bond trustee. State aid covers maximum annual program debt service by at least
