Summary: Vista Unified School District, California; Appropriations; General Obligation

S&P Global Ratings removed its 'A+' long-term rating and underlying rating (SPUR) on Vista Unified School District, Calif.'s general obligation (GO) bonds, as well as its 'A' SPUR on the district's certificates of participation (COPs), from CreditWatch with negative implications, where they had been placed on Dec. 15, 2021. The outlook is stable. At the same time, S&P Global Ratings assigned its 'A+' long-term rating, with a stable outlook, to the district's $150 million election of 2018 series B and B-1 GO bonds. Finally, S&P Global Ratings assigned its 'A' long term rating, with a stable outlook, to the district's $39.745 million series 2022 COPs. The stable outlook reflects the receipt of additional information from the district that clarifies its

...S&P Global Ratings removed its 'A+' long-term rating and underlying rating (SPUR) on Vista Unified School District, Calif.'s general obligation (GO) bonds, as well as its 'A' SPUR on the district's certificates of participation (COPs), from CreditWatch with negative implications, where they had been placed on Dec. 15, 2021. The outlook is stable. At the same time, S&P Global Ratings assigned its 'A+' long-term rating, with a stable outlook, to the district's $150 million election of 2018 series B and B-1 GO bonds. Finally, S&P Global Ratings assigned its 'A' long term rating, with a stable outlook, to the district's $39.745 million series 2022 COPs. The stable outlook reflects the receipt of additional information from the district that clarifies its future projections. Additionally, the increase in reserves and significant reduction in expenditures to realign revenues and expenditures help to stabilize the rating. The district's COPs represent an interest in lease payments it makes, as...

Summary