Vernon County R-V School District, MO Assigned 'A' Issuer Credit Rating; Series 2024 COPs Rated 'A-'; Outlook Stable

SAN FRANCISCO (S&P Global Ratings) March 28, 2024--S&P Global Ratings assigned its 'A' issuer credit rating (ICR) to Vernon County R-V School District (Nevada), Mo., and its 'A-' long-term rating to the district's $5.75 million series 2024 lease certificates of participation (COPs). The outlook is stable. The district plans to use the lease proceeds for facility development of a new elementary school and, if funds are available, to complete other repairs and improvements to existing facilities. "In our view, the rating reflects the district's consistent positive operations in the last few years and its strong reserves on a cash basis, offset by its above-average debt burden and below-average Financial Management Assessment," said S&P Global Ratings credit analyst Ying Huang. The

...March 28, 2024 SAN FRANCISCO (S&P Global Ratings) March 28, 2024--S&P Global Ratings assigned its 'A' issuer credit rating (ICR) to Vernon County R-V School District (Nevada), Mo., and its 'A-' long-term rating to the district's $5.75 million series 2024 lease certificates of participation (COPs). The outlook is stable. The district plans to use the lease proceeds for facility development of a new elementary school and, if funds are available, to complete other repairs and improvements to existing facilities. "In our view, the rating reflects the district's consistent positive operations in the last few years and its strong reserves on a cash basis, offset by its above-average debt burden and below-average Financial Management Assessment," said S&P Global Ratings credit analyst Ying Huang. The stable outlook reflects our expectation that the district will sustain structural balance and strong cash reserves during the outlook horizon. We could take a negative rating action if there are sustained...

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