S&P Global Ratings assigned its 'AA+' long-term rating and 'A+' underlying rating to Jackson County School District No. 5 (Ashland), Ore.'s $106 million series 2019 general obligation (GO) bonds. The outlook is stable. The 'AA+' long-term rating reflects our view of credit enhancement under the Oregon School Bond Guaranty Program. The rating is equal to, and moves in tandem with, our rating on the state's GO obligations. Under the program, the district is required to notify the state and the paying agent 15 days before a scheduled debt service date if it is unable to make its full debt service payment. If the paying agent does not receive payment from the district 10 days prior to the scheduled debt service
