BOSTON (Standard&Poor's) June 17, 2011--Standard&Poor's Ratings Services raised its school issuer credit rating (ICR) on Vandercook Lake Public Schools, Mich.'s general obligation (GO) debt one notch to 'A' from 'A-' based on Standard&Poor's assessment of the district's stable financial position. The outlook is stable. At the same time, Standard&Poor's affirmed its 'AA-' program rating, with a stable outlook, on the district's existing GO debt. The program rating reflects the district's participation in the Michigan State School Bond Loan Fund program. "We believe the district will likely make necessary expenditure adjustments to satisfy the fund balance policy," said Standard&Poor's credit analyst Jeffrey Devine. "While we do not think we will change
