Standard&Poor's Ratings Services has assigned its 'AA' enhanced rating to Cleveland Municipal School District, Ohio's unlimited-tax general obligation (GO) school improvement refunding bonds, series 2012, and affirmed its 'AA' long-term rating and underlying rating (SPUR) on the district's existing GO debt, reflecting the district's eligibility for, and participation in, the Ohio Credit Enhancement Program. The program is structured to provide school bonds with added security from a state aid withholding mechanism that has strong statutory provisions. Upon state approval, the agreement between the state and local school district for participation in the program is irrevocable as long as any program debt is outstanding. Standard&Poor's also assigned its 'BBB+' school issuer credit rating (ICR) to the series
