...S&P Global Ratings assigned its '##+' rating and stable outlook to Stoddard County R-XI School District (Dexter), Mo.'s series 2020 general obligation (GO) bonds and affirmed its '##+' rating, with a stable outlook, on the district's existing program-qualified GO debt. Officials are issuing the series 2020 bonds for site development, acquisition, and the betterment of school facilities districtwide. The rating reflects our assessment of the district's eligibility for, and participation in, the Missouri Direct Deposit of State Aid program. The state-credit-enhancement rating is one notch below the Missouri GO rating, reflecting: + Our view of state aid appropriation risks, partially mitigated by strong state support for the program and consistent and well-established state aid funding; + Our expectation maximum annual debt service (MADS) coverage on all parity debt by state aid payments, currently 5.42x, will remain strong; and + Our view that the flow of state aid distributions and debt...
