Standard&Poor's Ratings Services has assigned its 'AA' long-term rating to Port Washington-Saukville School District, Wisc.'s taxable general obligation (GO) refunding bonds and GO promissory notes dated Dec. 20, 2012. At the same time, we affirmed our 'AA' long-term rating on the district's outstanding GO debt. The outlook is stable. The rating reflects our view of the district's: Participation in the diverse Milwaukee metropolitan area economy, Strong income and very strong market value per capita indicators, Strong general fund reserves paired with good financial management practices, and Moderate net debt as a percent of market value, coupled with rapid amortization. The district's unlimited-tax GO pledge secures debt service payment on the bonds and notes. Bond proceeds will refinance the
