Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to Van Meter Community School District, Iowa's series 2013 general obligation (GO) school bonds. The outlook is stable. The rating reflects our view of the district's: Access to the stable and diverse Des Moines metropolitan area employment base; Very strong reserves, which are projected to decline but should still remain at strong to very strong levels in coming budgets; Good financial management policies and practices; and Moderate per capita debt burden with limited capital needs. The district's unlimited-tax GO pledge secures the bonds, which will fund various school projects including new learning spaces, improvements and renovations to the athletic facilities, cafeteria, parking, and infrastructure in older parts of the building.
