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Summary: Harrisburg School District No. 41-2, South Dakota; General Obligation Jan 12 Product Image

Summary: Harrisburg School District No. 41-2, South Dakota; General Obligation Jan 12

  • ID: 2042356
  • January 2012
  • Region: South Dakota
  • Standard & Poors

FEATURED COMPANIES

  • Harrisburg Sch Dist #41-2
  • MORE

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to Harrisburg School District No. 41-2, S.D.'s series 2012 general obligation (GO) bonds and affirmed its 'AA-' long-term rating on the district's existing GO debt. The outlook is stable. The rating reflects our opinion of the district's: Stable area economy and proximity to the Sioux Falls, S.D. regional economic base; Very strong wealth and income indicators; Rapidly growing enrollment base, which allows for additional state aid funding; and Good level of financial reserves. While the growing enrollment base allows for additional funding, it also creates significant capital needs. This, paired with an already moderately high net debt burden, slow amortization, and elevated annual debt service carrying charges, is a...

Companies mentioned in this report are:
- Harrisburg Sch Dist #41-2

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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