West Contra Costa Unified School District, CA GO Rating Raised To 'AA-' On Stable Operations And Reserves

SAN FRANCISCO (Standard&Poor's) Feb. 19, 2016--Standard&Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to 'AA-' from 'A+' on West Contra Costa Unified School District, Calif.'s, general obligation (GO) bonds. At the same time, we assigned our 'AA-' long-term rating to the district's 2016 series D (election of 2010), 2016 Series C (Election of 2012), and 2016 series A refunding GO bonds. The outlook is stable. "The rating action reflects our view of the district's stable operations and maintenance of strong reserves through a recessionary revenue environment, and the strength of the local economy," said Standard&Poor's credit analyst Jaime Trejo. Proceeds from the bonds will be used to finance the construction, improvement,

...SAN FRANCISCO (Standard & Poor's) Feb. 19, 2016--Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to '##-' from 'A+' on West Contra Costa Unified School District, Calif.'s, general obligation (GO) bonds. At the same time, we assigned our '##-' long-term rating to the district's 2016 series D (election of 2010), 2016 Series C (Election of 2012), and 2016 series A refunding GO bonds. The outlook is stable. "The rating action reflects our view of the district's stable operations and maintenance of strong reserves through a recessionary revenue environment, and the strength of the local economy," said Standard & Poor's credit analyst Jaime Trejo. Proceeds from the bonds will be used to finance the construction, improvement, and furnishing of certain district facilities. Proceeds from the series 2016A GO refunding bonds will be used to refund a portion of the district's election of 2005 series B and 2009 series C-1 bonds to achieve interest savings....

Ratings Action