...S&P Global Ratings assigned its 'A-' long-term rating to Murray County Educational Facilities Authority, Okla.'s approximately $19.95 million series 2022 lease revenue bonds, issued on behalf of the Murray County Independent School District No.1 (Sulphur). The outlook is stable. The district's lease rental payments secure the lease revenue bonds. Revenue for lease payments primarily comes from the district's issuance of GO bonds. We rate these obligations one notch lower than the district's general creditworthiness to account for the appropriation risk associated with the lease payments. The district incorporates the affordability of the lease payments into its long-term plans. We incorporate the affordability and likelihood of the lease payments into our assessment of the district's general creditworthiness and the appropriation rating. In our view, the lease features and terms are standard, with no unusual risks regarding timely payment of debt. The 2022 bonds will fund high school gymnasium...
