Standard&Poor's Ratings Services has assigned its 'AA-' long-term enhanced rating to Lake Orion Community School District, Mich.'s series 2012 unlimited-tax general obligation (GO) refunding bonds and affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the district's previously issued GO bonds. The ratings reflect the school district's eligibility for, and participation in, the Michigan School Bond Qualification and Loan program. At the same time, Standard&Poor's assigned its 'AA-' school issuer credit rating (ICR) to the district's series 2012 bonds and affirmed its 'AA-' school ICR on the district's previously issued GO bonds. The outlook on all ratings is stable. The 'AA-' school ICR reflects what we view as the district's: Primarily residential status in Oakland
