Standard&Poor's Ratings Services assigned its 'AA-' enhanced long-term rating and its 'AA-' issuer credit rating (ICR) to Lake Orion Community School District, Mich.'s series 2015 general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'AA-' enhanced long-term rating, underlying rating (SPUR), and ICR on the district's existingGO bonds. The outlook on the enhanced ratings is stable. The rating on the ICR is negative. The rating on the district's previously issued bonds are based on participation in the Michigan School Bond Qualification and Loan program. The 'AA-' school long-term rating and ICR reflect our view of the district's: Primarily residential status in Oakland County, with the local economy anchored by a General Motors Corp.
