NEW YORK (Standard & Poor's) Aug. 17, 2009--Standard & Poor's Ratings Services has raised its underlying rating (SPUR) on Upper St. Clair Township School District, Pa.'s general obligation (GO) bonds to 'AA+' from 'AA,' based on the district's affluent residential community, positive financial performance, good management practices, and maintenance of a strong reserve position. The outlook is stable. At the same time, the rating service assigned its 'AA+' long-term rating to the district's $60 million series 2009A (tax exempt) and 2009B (federally taxable Build America Bonds--issuer subsidy) GO bonds. In Standard & Poor's view, the rating reflects the district's: Stable local economy, with easy access to, and participation in, the greater Pittsburgh metropolitan statistical area, providing residents with additional economic...
Companies mentioned in this report are:
- Upper St Clair Twp Sch Dist
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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.