Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to Kentwood Public Schools, Mich.'s series 2016 general obligation (GO) school building and site bonds. At the same time, Standard&Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) to the district's existing GO debt. The outlook is stable. The ratings reflect our view of the district's: Participation in the Grand Rapids-area economy; Stable enrollment, which is linked to state aid; and Low overall debt burden. Partially offsetting the preceding credit strengths is our view of the district's adequate-to-good, but below average, income levels. The district's unlimited-tax GO pledge secures the series 2016 bonds. On Nov. 3, 2015, district voters authorized the issuance of the bonds by referendum.
