The 'AA' enhanced rating assigned to Holt Public Schools, Mich.'s unlimited-tax GO refunding bonds reflects the district's participation in the Michigan School Bond Loan Fund Program. The 'A' Standard&Poor's issuer credit rating (ICR) reflects the district's: Participation in the diverse Lansing MSA; Above-average income and wealth characteristics; Good tax base growth due mostly to new home construction; and Good financial position. These strengths are offset by a high overall debt burden and high area unemployment levels. The school district, with a population of 28,465, on the southern border of Lansing, Mich., primarily serves residents of Delhi Township, Mich. ('A+' GO debt rating), although portions of Lansing ('AA+'); Delta Township, Mich. ('AA'); and Windsor Township, Mich. ('A-') are also
