The 'AA+' long-term rating on Greene County School District R-II (Willard), Mo.'s GO refunding bonds series 2006 reflects the school district's eligibility and participation in the Missouri Direct Deposit of State Aid Program, in which the state makes direct deposits of portions of monthly state aid payments to a bond trustee. The 'A' ICR reflects the district's: Access to the diverse economy of Springfield, Mo.; Growing tax base; Good reserves with financial operations that have benefited from voter-approved tax hikes; and Moderate overall debt burden. Constraining these strengths are the district's below-average income levels. The series 2006 bonds are secured by the general obligation pledge of the school district. Located in northwestern Greene County, the school district (population, 16,750) serves
