Summary: Pewaukee School District, Wisconsin; General Obligation; Note Dec 10

Standard & Poors, December 2010

Abstract
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Pewaukee School District, Wis.' bond anticipation notes (BANs) to reflect the district's investment-grade credit quality as well as its access to the long-term debt market. At the same time, Standard & Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the district's outstanding debt. The outlook is stable. The ratings reflect Standard & Poor's Ratings Services' view of the district's: -Participation in the deep and diverse Milwaukee metropolitan area economy; -Very strong income and extremely strong market value per capita; -History of balanced financial operations with good unreserved fund balances; and -Low overall debt burden with rapid amortization. The BANs are payable from note proceeds set aside...

Companies mentioned in this report are: Pewaukee 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.

Pewaukee Sch Dist

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