Standard&Poor's Ratings Services has affirmed its 'A+' underlying rating (SPUR) and issuer credit rating (ICR) on Saranac Lake Central School District, N.Y.'s general obligation (GO) bonds. The outlook is stable. The rating reflects our view of the district's: Limited local economic base centered on tourism and government; Substantial property tax base, with state forestland and a number of vacation properties; Strong financial position despite recurring drawdowns in the past three fiscal years; and Low debt levels, coupled with what we consider low carrying charges and rapid debt amortization. The district's full-faith-and-credit pledge secures the bonds. The New York State Aid Intercept program provides additional bond security. Saranac Lake Central School District, with an estimated population of 13,500, is
