S&P Global Ratings raised its long-term and underlying rating (SPUR) to 'AA-' from 'A+' on Montour School District, Pa.'s unlimited and limited tax general obligation (GO) bonds outstanding. The outlook is stable. The raised rating reflects our view of the district's demonstrated ability to sustain balanced-to-positive general fund results, which have helped it sustain reserves well above its minimum fund balance policy for a prolonged period. It also reflects improvement in the district's financial policies and practices to a level we consider good from standard. The district's full faith and credit secures its outstanding unlimited and limited debt. The limited tax bonds are subject to Act 1 Index limitations, which, by Pennsylvania commonwealth statute, restrict a district's ability to raise
