Summary: West Contra Costa Unified School District, California; General Obligation

S&P Global Ratings revised its outlook to positive from stable and affirmed its 'AA-' long-term rating and underlying rating (SPUR) on West Contra Costa Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its 'AA-' long-term rating, with a positive outlook, to the district's: 2018 GO refunding bonds, 2018 series D GO bonds (2012 election), and 2018 series E GO bonds (2010 election). The outlook revision reflects our view of the district's sustained strengthening of available reserves, supported by a recently enhanced minimum fund balance policy and the recent board approval of several budget cuts, which management anticipates will eliminate the district's structural imbalance. Revenue from unlimited ad valorem taxes levied on

...S&P Global Ratings revised its outlook to positive from stable and affirmed its '##-' long-term rating and underlying rating (SPUR) on West Contra Costa Unified School District, Calif.'s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its '##-' long-term rating, with a positive outlook, to the district's: + 2018 GO refunding bonds, + 2018 series D GO bonds (2012 election), and + 2018 series E GO bonds (2010 election). The outlook revision reflects our view of the district's sustained strengthening of available reserves, supported by a recently enhanced minimum fund balance policy and the recent board approval of several budget cuts, which management anticipates will eliminate the district's structural imbalance. Revenue from unlimited ad valorem taxes levied on property within the district secures the GO bonds. The Contra Costa County Board of Supervisors has the power and obligation to levy these taxes at the district's request for the bonds' repayment....

Summary