Summary: Upper St. Clair Township School District, Pennsylvania; School State Program May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'AA+' long-term rating and school issuer credit rating (ICR) to Upper St. Clair School District, Pa.'s series 2011A and 2011B general obligation (GO) notes, reflecting our view of the district's: Stable local economy, with easy access to, and participation in, the greater Pittsburgh metropolitan statistical area (MSA), providing residents with additional economic and employment opportunities; Affluent, mainly residential community; Stable and very diverse tax base, coupled with very strong per capita property wealth levels; and Maintenance of good general fund balance despite consecutive drawdowns in fiscals 2009 and 2010. The district's high debt burden, compounded with slow amortization, partially offsets these credit strengths. The district qualifies for the Pennsylvania State Aid Intercept...

Companies mentioned in this report are:
- Upper St Clair Twp 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.

- Upper St Clair Twp Sch Dist

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