Summary: East Lycoming School District, Pennsylvania; General Obligation

Standard & Poors, October 2009

Abstract
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. Standard & Poor's also assigned its 'AA-' rating, and stable outlook, to the district's 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 our opinion, the rating reflects the district's: Somewhat limited local economy, coupled with above-average unemployment; Sound financial...

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

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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.

East Lycoming Sch Dist

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