Standard&Poor's Ratings Services raised its school issuer credit rating (ICR) on Vandercook Lake Public Schools, Mich.'s general obligation (GO) debt one notch to 'A' from 'A-' based on Standard&Poor's assessment of the district's stable financial position. The outlook is stable. At the same time, Standard&Poor's affirmed its 'AA-' program rating, with a stable outlook, on the district's existing GO debt. The program rating reflects the district's participation in the Michigan State School Bond Loan Fund program. The ICR reflects the district's own credit quality, including our opinion of its: Access to, and participation in, the Jackson metropolitan statistical area; Relatively stable enrollment trends, directly tied to state aid revenues; and Moderate debt burden. We
