...S&P Global Ratings assigned its '##+' long-term rating and 'A' underlying rating to Wallowa School District No.12, Ore.'s $7 million series 2021 general obligation (GO) bonds. The outlook is stable. The '##+' long-term rating reflects our view of the district's eligibility for, and expected participation in, the Oregon School Bond Guaranty Program. The rating is equal to, and moves in tandem with, our view of the State of Oregon's general creditworthiness to reflect the state's commitment to make timely principal and interest payments. Under the program, the district is required to submit audited financial statements and budget documents annually to the state department of education, as well as report any material changes or events that might affect its eligibility to participate in the program. The district's full faith and credit, including ad valorem property taxes without limitation as to rate or amount, secures the bonds and is the basis for our 'A' underlying rating. Proceeds will...
