Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to Spring Valley School District, Wis.' series 2010 general obligation (GO) refunding bonds. The rating reflects our view of the district's: Stable local economy and access to the larger and more diverse employment area of Minneapolis-St. Paul; Good income levels, as measured by per capita and median household effective buying incomes; Very strong financial reserves; and Low overall net debt burden as a percent of market value. An unlimited-tax GO pledge secures the payment of debt service on the bonds. The proceeds of the bonds will be used to refund the district's outstanding series 2001 bonds for interest cost savings only; this action will not lengthen the maturity schedule. Spring
