Standard&Poor's Ratings Services assigned its 'AA+' program rating and 'A+' school issuer credit rating (ICR) and stable outlook to Marion County School District No. 5 (Cascade), Ore.'s series 2013 general obligation (GO) refunding bonds. Standard&Poor's also affirmed its 'A+' rating, with a stable outlook, on the district's existing GO debt not issued under the Oregon School Bond Guaranty program and its 'AA+' program rating, with a stable outlook, on its GO debt issued solely under the Oregon School Bond Guaranty program. The program rating reflects our assessment of the district's participation in, and eligibility for, the Oregon School Bond Guaranty program. The 'AA+' Oregon School Bond Guaranty program rating is equivalent to the state's AA+/Stable GO
