Summary: York County School District No. 4 (Fort Mill), South Carolina; School State Program Aug 09

Standard & Poors, August 2009

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating and 'AA-' issuer credit rating (ICR), and stable outlook, to York County School District No. 4 (Fort Mill), S.C.'s series 2009A general obligation (GO) bonds and affirmed its 'AA' long-term rating and 'AA-' ICR, with a stable outlook, on the district existing debt. The 'AA' enhanced rating on the district's GO bonds reflects its participation in the South Carolina State Credit Enhancement program. The ICR reflects the district's own creditworthiness and, in our opinion, its: Growing, affluent, and primarily residential area that benefits from easy access to the Charlotte-Gastonia metropolitan statistical area (MSA) employment base; Consistent growth in an already sizable property tax base, coupled with no concentration among the...

Companies mentioned in this report are:
- York Cnty Sch Dist #4 Fort Mill

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.

- York Cnty Sch Dist #4 Fort Mill

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