...S&P Global Ratings raised its long-term rating to '##+' from '##' on Contra Costa Community College District, Calif.'s outstanding general obligation (GO) bonds. The outlook is stable. The raised rating reflects our view of the district's continued economic growth and improved property wealth over the last several years. The rating action also reflects the district's maintenance of very strong reserves, along with management's prudent budget practices in regard to certain long-term liabilities. Revenue from unlimited ad valorem taxes levied on taxable property within the district secures the GO bonds. The Contra Costa County Board of Supervisors has the power and obligation to levy these taxes at the district's request for the bonds' repayment. The county is required to deposit such taxes, when collected, into the bonds' debt service fund. The rating reflects our view of the district's:...
