Standard&Poor's Ratings Services assigned its 'AA+' standard long-term rating and 'AA-' issuer credit rating (ICR) to Clay County School District No. 74 (North Kansas City), Mo.'s series 2007 GO school building bonds. The 'AA+' rating and 'AA-' ICR have also been affirmed on the district's parity debt. The 'AA+' long term rating is based on the district's participation in the Missouri Direct Deposit of State Aid Program. The 'AA-' rating is based on the district's own creditworthiness, reflecting its: Location and participation in the Kansas City, Mo. area economy; Average wealth and income indicators as well as average per capita market values; and Solid financial position supported by high reserve levels. These strengths are mitigated by the cyclical
