S&P Global Ratings assigned its 'AA+' rating and stable outlook to Jefferson County C-I School District (Windsor), Mo.'s roughly $4.4 million series 2021 general obligation (GO) refunding bonds. Officials intend to use series 2021 bond proceeds to refund series 2017 GO bonds. The rating reflects our assessment of the district's eligibility for, and participation in, the Missouri Direct Deposit of State Aid program. The state credit-enhancement rating is one notch below the Missouri GO rating, reflecting: Our view of state aid appropriation risks, which are partially mitigated by strong state support for the program and consistent and well-established state aid funding; Our expectation that maximum annual debt service coverage on all parity debt by state aid payments, currently 3x, will
