Summary: Oklahoma Cnty Indpt Sch Dist #12 Edmond; Tax Secured, General Obligation Jan 03

Standard & Poors, January 2003

Abstract
The 'AA' rating on Oklahoma County Independent School District No. 12 (Edmond), Okla.'s GO combined purpose bonds reflects the district's: Inclusion in the diverse Oklahoma City MSA; Above-average wealth and income levels; Sound financial management despite state restrictions on reserve levels; and Low overall debt levels, coupled with rapid principal retirement and significant, although manageable, future capital needs. Deterioration in general fund reserves due to state aid reductions in fiscals 2002 and 2003 is an offsetting credit factor. The district's full faith and credit pledge secures the bonds. Located just north of Oklahoma City, Okla., the 97 square-mile district is primarily a bedroom community with an estimated population of 100,000 that continues to experience enrollment growth of 1%-2% per year....

Companies mentioned in this report are:
- Oklahoma Cnty Indpt Sch Dist No 12 Edmond

Action: New Rating

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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.

- Oklahoma Cnty Indpt Sch Dist No 12 Edmond

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