S&P Global Ratings assigned its 'A' long-term rating to Pekin Community School District, Iowa's series 2017 general obligation (GO) school bonds. The outlook is stable. The district's full faith and credit unlimited ad valorem property tax GO pledge secures the bonds. Management indicates bond proceeds will be used to build, furnish, and equip additions to and repair, remodel, equip, and improve existing school facilities, including site improvements. The rating reflects our view of the district's: Very strong market values per capita, Good financial management practices and policies, and Moderate overall debt burden. Partly offsetting the above strengths, in our view, are the district's recent consecutive years of uses of reserves and trend of declining enrollment. Pekin Community School District School
