Standard&Poor's Ratings Services assigned its 'A+' long-term rating to Woodward-Granger Community School District, Iowa's series 2015 general obligation (GO) school bonds. At the same time, Standard&Poor's affirmed its 'A+' long-term rating on the district's existing GO bonds. The outlook on all ratings is stable. The rating reflects our view of the district's: Stable agriculture-based local economy, located about 40 minutes from downtown Des Moines, that has continued to show steady tax base growth during the past three years; Good to strong income levels and very strong market value per capita; Strong financial operations although the district is projecting to draw down reserves in the current year; and Moderate overall debt burden. Partly offsetting the above strengths,
