Standard&Poor's Ratings Services assigned its 'A+' rating to West Contra Costa Unified School District, Calif.'s 2012 general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the district's GO bonds outstanding. The outlook is stable. The ratings reflect our opinion of the district's: Participation in the San Francisco Bay Area economy, which provides diverse employment opportunities; Very strong property wealth and strong income levels; Strong reserves, which the district established to mitigate unanticipated midyear budget cuts; Prepayment of its outstanding emergency loan, which will eliminate about $1.4 million of annual general fund expense; and Five-year parcel tax, which generates about $9.8 million annually, and a perpetual
