Summary: Missouri School Boards Assn. Clay County Public School District No. 53 (Liberty); Appropriations; School State Program Aug 07

Standard & Poors, August 2007

Abstract
Missouri School Boards Assn.'s lease participation certificates series 2007, issued for Clay County Public School District No. 53 (Liberty), have been rated 'A'. The certificates are backed by the district's pledge to appropriate the necessary rental payments to make annual debt service requirements. The rating is one notch below the 'A+' issuer credit rating (ICR) on the district's GO bonds. The 'A+' ICR reflects the district's GO credit pledge and its: Participation in the Kansas City, Mo. MSA; Above-average income levels; and Good financial position. The challenges of handling future capital needs to accommodate the demands of growing enrollment pressures temper these credit factors. The 'AA+' ratings on the district's previously issued debt have been affirmed and reflect the district's...

Companies mentioned in this report are:
- Clay Cnty Pub Sch Dist #53 Liberty
- Missouri Sch Brds Assn

Action: Affirmed
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.

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.

- Clay Cnty Pub Sch Dist #53 Liberty
- Missouri Sch Brds Assn

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