The 'AA-' standard long-term rating and Standard&Poor's underlying rating (SPUR) on Kentwood Public Schools, Mich.'s reflect the following credit factors: A local employment base anchored by Steelcase Inc., in addition to a diverse mix of commercial and industrial employment within the district; Access to the wider Kent County economic base; Stable financial operations with sufficient reserves; and Limited future capital needs, with the presence of a sinking fund levy that provides the district with funding for capital improvements. Kentwood Public Schools is located in the southeast portion of the Grand Rapids area. The district's population, enrollment, and tax base have been steadily growing. The district's population, currently at approximately 62,000, has increased 25% since 1990. Concurrently, enrollment within
