Summary: Menasha Joint School District, Wisconsin; General Obligation May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating to Menasha Joint School District, Wis.' taxable general obligation (GO) qualified energy conservation notes (QECNs), series 2011. Standard & Poor's also affirmed its 'AA-' rating on the district's GO school refunding bonds outstanding. The outlook is stable. The rating reflects our view of the district's: Stable local economy, with access to the more diverse Green Bay and Fond Du Lac area economies; Good income levels, as measured by per capita effective buying income; Very strong financial reserves paired with good financial management practices; and Moderate overall net debt burden. The notes are secured with a direct annual irrepealable tax in years 2011 through 2020 for the sinking fund and interest payments...

Companies mentioned in this report are: Menasha Jt Sch Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Menasha Jt Sch Dist

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