Standard&Poor's Ratings Services has assigned its 'A+' long-term rating to Marshalltown Community School District, Iowa's series 2012A and 2012B general obligation (GO) school refunding bonds. The outlook is stable. The rating reflects our view of the district's: Stable local economy, which serves as a regional employment center; Good income levels; Good general fund reserves; and Moderate debt burden and rapid amortization. Partially offsetting the above strengths, in our view, are the district's below-average, albeit adequate, market value per capita and lack of a long-term financial planning policy. The district's unlimited-tax GO pledge secure the bonds. The district will use the series 2012A bond proceeds to current refund its series 2006 GO school bonds for interest cost savings. Series
