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East Lycoming School District, PA's Very Strong Finances, Prudent Budgeting Lift GO Rating Two Notches To 'AA-' Product Image

East Lycoming School District, PA's Very Strong Finances, Prudent Budgeting Lift GO Rating Two Notches To 'AA-'

  • ID: 1785863
  • October 2009
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Oct. 27, 2009--Standard & Poor's Ratings Services raised its underlying rating (SPUR) on East Lycoming School District, Pa.'s general obligation (GO) debt two notches to 'AA-' from 'A' based on the district's history of maintaining a very strong financial position, evidenced by four consecutive general fund surpluses over the past four audited fiscal years, and management's prudent budgeting practices. The outlook is stable. The rating service also assigned its 'AA-' rating, and stable outlook, to the district's $13.455 million series 2009A, 2009B, and 2009C GO bonds. The 'AA-' rating, however, is now based on the district's own creditworthiness and not the Pennsylvania State Aid Intercept program. In Standard & Poor's opinion, the rating reflects the...

Companies mentioned in this report are: East Lycoming Sch Dist
Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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