Standard&Poor's Ratings Services affirmed its 'AA' long-term rating on Mukwonago Area School District, Wis.' general obligation (GO) debt. The outlook is stable. The 'AA' rating reflects our assessment of the district's: Access to employment opportunities throughout the diverse Milwaukee metropolitan area economy; Very strong median household effective buying income (EBI) and extremely strong per capita market value; Very strong financial position, supported by good financial management; and Low overall debt burden. Partly offsetting these strengths, in our opinion, is the district's declining enrollment, which is tied to general fund revenue. The district's unlimited-tax GO pledge secures the bonds. The district serves an estimated population of 29,000 in Waukesha County, and is located about 70 miles northwest of Chicago
