S&P Global Ratings affirmed its 'AA-' long-term rating and underlying rating (SPUR) on West Contra Costa Unified School District, Calif.'s outstanding general obligation (GO) debt. The outlook is stable. Revenue from unlimited ad valorem taxes levied on property within the district secures the district's 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 bond repayment. Following three consecutive general fund deficits, the district reported surplus operating results in fiscals 2020 and 2021, due in large part to the receipt of one-time pandemic-relief aid. The recent strong performance improved the district's available reserve to very strong levels and allowed it to maintain its other postemployment benefit
