Standard&Poor's Ratings Services assigned its 'AA-' rating to Newark Unified School District, Calif.'s general obligation (GO) bonds, election 2011, series B. At the same time, Standard&Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the district's previously issued GO debt. The outlook on all ratings is stable. The ratings reflect our view of the district's: Access to employment opportunities in the nearby San Francisco metropolitan area, coupled with an extremely strong market value per capita; Very strong assigned and unassigned general fund balance; and Moderate debt burden, with no additional debt plans. Partially offsetting these strengths, in our view, are the recent declines in the district's average daily attendance (ADA), which is the primary
