Standard&Poor's Ratings Services affirmed its 'A+' underlying rating for credit program on Washington County School District No. 15 (Forest Grove), Ore.'s general obligation (GO) bonds outstanding. In addition, we affirmed our 'A+' long-term rating on the district's full faith and credit obligations. The outlook is stable. All of the rated obligations are full faith and credit obligations of the district, including an ad valorem property tax pledge, but the "full faith and credit obligations" are limited by constitutional property tax revenue restrictions, including restrictions on an aggregate maximum levy rate and annual assessed value (AV) growth of 3% per year excluding new construction. The rating reflects our view of the district's: Access to broad and diverse Portland area
