Standard&Poor's Ratings Services assigned its 'AA+/AA-' (SPUR) rating to Clay County School District No. 74 (North Kansas City), Mo.'s GO refunding and improvement bonds, series 2004. In addition, Standard&Poor's affirmed its 'AA+/AA-' (SPUR) on the district's outstanding debt. The 'AA+' long-term rating reflects the security provided by the Missouri Direct Deposit of State Aid Program. The 'AA-' Standard&Poor's underlying rating (SPUR) is based on the district's following characteristics: Participation in the Kansas City area economy; Growing tax base fueled by residential growth; Above-average wealth and income levels; and Stable financial performance. These strengths are mitigated by a growing, but manageable, debt burden brought on by increasing capital needs. Clay County School District No. 74
