S&P Global Ratings assigned its 'AA+' long-term rating to Stoddard County R-XI School District (Dexter), Mo.'s series 2019B general obligation (GO) bonds. The outlook is stable. The bonds will fund various capital projects. In 1995, the Missouri Legislature adopted Senate Bill 301, which established a program to assist Missouri school districts with their financing needs. This rating moves in tandem with the state GO rating, keeping the relative rating differential between the program and state GO rating constant. Any school district is eligible to apply to the state to use the program as an additional bond security. Program guidelines specifically exclude any type of obligation other than GO bonds. Conditions for state approval include a state aid coverage requirement plus
