Standard&Poor's Ratings Services affirmed its 'AA-' underlying rating (SPUR) and 'BBB+' issuer credit rating (ICR) on the School District of the City of Lincoln Park, Mich.'s previously issued general obligation (GO) debt. The outlook is stable. The 'AA-' SPUR reflects the district's participation in the state enhancement program. The 'BBB+' ICR reflects our view of the district's: Positive general fund result in fiscal 2012 (ended June 30), which was in contrast to a recent trend of general fund drawdowns; Good general fund reserves although almost all of the reserves are assigned in anticipation of needing to pay back the county for special education expenses not covered by county property taxes; and Significant capital needs that management estimates at
