Standard&Poor's Ratings Services assigned its 'A-' rating to West Contra Costa Unified School District, Calif.'s GO bonds, series C. In addition, Standard&Poor's affirmed its 'A-' underlying rating (SPUR) on the district's outstanding debt. The 'A-' rating reflects the district's: Fiscal oversight by state trustee and adequate financial performance and recovery from financial mismanagement in the early 1990s; Steady tax base growth; and Manageable, but growing, debt burden. These strengths are offset by the district's: Ongoing capital needs; Slow amortization of outstanding debt; and Limited financial flexibility, somewhat constrained by union contracts that restrict further growth in average class size at most grade levels and that also grant health care benefits to retired employees. An unlimited ad
