Standard&Poor's Ratings Services assigned its 'A+' rating to Stanislaus Union School District, Calif.'s general obligation (GO) bonds, election of 2008, series B. At the same time, Standard&Poor's affirmed its 'A+' underlying rating (SPUR) on the district's GO debt outstanding. The outlook is stable. The ratings reflect our view of the district's: Diversifying area economy, which is tied to retail, health care, government, food production, and agriculture; Good financial performance and position; and Moderate debt burden. The preceding credit strengths are offset in part by our view of declines in the district's average daily attendance (ADA) and recent cuts in state funding, both of which management expects will result in lower fund balances in the future. Unlimited
