Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'A' from 'A-' on West Contra Costa Unified School District, Calif.'s outstanding general obligation (GO) debt. The outlook is stable. Standard&Poor's also assigned its 'A' rating and stable outlook to the district's series 2009 GO bonds (election of 2005, series C). The rating reflects our view of the district's: Participation in the San Francisco Bay Area economy, which provides diverse employment opportunities; Strong wealth and income levels; Good, but declining, reserves, coupled with fiscal oversight by a state trustee and recovery from financial mismanagement in the early 1990s; and Renewal of its five-year parcel tax, which generates about $10 million annually. These positive factors are offset by
