Summary: Westerville City School District, Ohio; General Obligation Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services has affirmed its 'AA-' long-term rating and underlying rating (SPUR) on Westerville City School District, Ohio's general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating on the district's series 2010 permanent improvement levy tax anticipation notes (TANs). The outlook is stable. The ratings reflect our view of the district's: Participation within the deep and diverse Columbus metropolitan area economy; Very strong income and strong wealth levels; and Low debt burden with no future debt plans. Limiting credit considerations, in our opinion, include the district's recent use of reserves for operations and projected use of reserves as well as the district's historical dependence on voter approval for millage renewal and...

Companies mentioned in this report are: Westerville City Sch Dist
Action: Affirmed
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.

Westerville City Sch Dist

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