Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Johnson County Unified School District No. 231, Kan.'s general obligation (GO) debt three notches to 'AA-' from 'A-' based on the district's very strong financial performance and continued economic expansion. The outlook is stable. Standard&Poor's also assigned its 'AA-' long-term rating, and stable outlook, to the district's series 2009A GO refunding bonds. The ratings reflect the district's: Expanding local economy, which participates in the broad and diverse Kansas City metropolitan statistical area (MSA); Healthy assessed valuation (AV) growth; Above-average income levels; and Adequate financial position, given the state educational funding system. Offsetting factors include the district's: Moderately high debt burden, and Further enrollment-driven capital needs. The district's
