Summary: Southern Kern Unified School District, California; General Obligation

S&P Global ratings revised its outlook to positive from stable and affirmed its 'A-' long-term rating on Southern Kern Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its 'A-' long-term rating on the district's anticipated $1.2 million series A 2021 GO refunding bonds and $6.5 million series B 2021 GO refunding bonds. The outlook revision reflects the district's implementation of a budgetary recovery plan with assistance from the district's immediate oversight entity, the Kern County Superintendent of Schools (KCSOS), resulting in positive operating results in fiscal 2020 and 2021. With these results, the district anticipates strong available reserves in 2021. Unlimited ad valorem taxes levied on taxable property within the district

...S&P Global ratings revised its outlook to positive from stable and affirmed its 'A-' long-term rating on Southern Kern Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its 'A-' long-term rating on the district's anticipated $1.2 million series A 2021 GO refunding bonds and $6.5 million series B 2021 GO refunding bonds. The outlook revision reflects the district's implementation of a budgetary recovery plan with assistance from the district's immediate oversight entity, the Kern County Superintendent of Schools (KCSOS), resulting in positive operating results in fiscal 2020 and 2021. With these results, the district anticipates strong available reserves in 2021. Unlimited ad valorem taxes levied on taxable property within the district secure the GO bonds. The Board of Supervisors of Kern County has the power and obligation to levy these taxes at the district's request for the bonds' repayment. Proceeds from the series...

Summary