Standard&Poor's Ratings Services raised its underlying rating on Lincoln Park City School District, Mich.'s general obligation bonds (GO) to 'A-' from 'BBB+.' The outlook is stable. The upgrade is based on our assessment of the district's recently improved budgetary performance, which has strengthened its budgetary flexibility as evidenced by strong reserves. The district posted a $1.3 million surplus in fiscal 2014 (June 30) and is projecting a similar amount for fiscal 2015. The district's unlimited-tax, full-faith-and-credit GO pledge secures the bonds. The underlying rating reflects our view of the district's: Access to economic opportunities in Wayne County; Increasing enrollment, which is directly tied to state aid; Strong budgetary flexibility with strong available reserves; and Low overall debt burden
