Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Lawrence County R-V School District Mt. Vernon, Mo.'s series 2016 general obligation (GO) refunding bonds. At the same time, we affirmed our 'AA+' rating on the district's outstanding, Missouri Direct Deposit of State Aid program qualified debt, which reflects our view of the program's credit characteristics. The outlook on the ratings is stable. Management intends to use the series 2016 bond proceeds to advance crossover refund a portion of the outstanding principal on its series 2007 GO bonds for interest-cost savings. The 'AA+' long-term rating on the series 2016 GO refunding bonds reflects an escrow comprised of U.S. government securities that supports the bonds through the March 1, 2017,
