Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Eastport-South Manor Central School District, N.Y.'s series 2010 school district serial bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term rating on the district's parity debt. The outlook is stable. In our opinion, the 'AA+' rating reflects the following: Access to strong local economies throughout Nassau and Suffolk counties; Very strong income and extremely strong wealth indicators; Good and well-embedded financial management policies and procedures, supporting a strong available fund balance; and Significant state reimbursement for debt service leading to a low-to-moderate debt burden. The district's full faith and credit pledge secures the general obligation bonds. We understand that proceeds will finance technology improvements as well
