Summary: Derry Area School District, Pennsylvania; General Obligation; School State Program Nov 11

Standard & Poors, November 2011

Abstract
Standard & Poor's Ratings Services assigned its 'A+' rating and stable outlook to Derry Area School District, Pa.'s series 2011 general obligation (GO) refunding bonds, and affirmed the 'A+' rating on the district's outstanding GO debt. The rating reflects the district's: Stable economy that participates in the Pittsburgh metropolitan statistical area, Adequate wealth and income levels, Strong financial position with growing reserves in the last three years, and Moderate debt levels. The district's full faith and credit unlimited-tax pledge secures the bonds. Additional security is provided by the Pennsylvania State School Aid Intercept program. Bond proceeds will refund the series 2002 bonds. Derry Area School District is located in Westmoreland County, roughly 40 miles east of Pittsburgh and five miles...

Companies mentioned in this report are:
- Derry Area 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.

- Derry Area Sch Dist

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