Summary: Cleveland County Public Facilities Authority, Oklahoma Moore Norman Technology Center School District No. 17; Appropriations; General Obligation

S&P Global Ratings raised its long-term rating to 'AA' from 'AA-' on Moore Norman Technology Center School District No. 17, Okla.'s general obligation debt outstanding. At the same time, S&P Global Ratings raised its long-term rating to 'AA-' from 'A+' on the Cleveland County Public Facilities Authority's educational facilities lease revenue bonds, supported by the district. The outlook is stable. The rating action reflects our view of the district's continued positive operating surpluses in its general fund, increasing reserves to levels commensurate with those of higher-rated peers. The positive results are largely attributed to the continued economic growth within the district, which benefits from participation in the Oklahoma City metropolitan statistical area (MSA). Revenue from an ad valorem tax, without

...S&P Global Ratings raised its long-term rating to '##' from '##-' on Moore Norman Technology Center School District No. 17, Okla.'s general obligation debt outstanding. At the same time, S&P Global Ratings raised its long-term rating to '##-' from 'A+' on the Cleveland County Public Facilities Authority's educational facilities lease revenue bonds, supported by the district. The outlook is stable. The rating action reflects our view of the district's continued positive operating surpluses in its general fund, increasing reserves to levels commensurate with those of higher-rated peers. The positive results are largely attributed to the continued economic growth within the district, which benefits from participation in the Oklahoma City metropolitan statistical area (MSA). Revenue from an ad valorem tax, without limitation as to rate or amount, levied annually on all taxable property within the district secures the GO bonds. The district's lease rental payments secure the lease revenue bonds....

Summary