Summary: St. Louis County School District (Normandy), Missouri; School State Program Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'AA+' rating to St. Louis County School District (Normandy), Mo.'s series 2012 general obligation (GO) refunding bonds. The outlook is negative. The rating and outlook reflect an escrow consisting of U.S. government securities that support the bonds through the March 1, 2014, crossover date. Following the crossover date, the Missouri Direct Deposit of State Aid program will support the bonds through maturity. At the same time, Standard & Poor's affirmed its 'AA+' rating on the district's existing GO debt. The outlook on this rating is stable. The rating reflects the school district's eligibility for, and participation in, the Missouri Direct Deposit of State Aid program, in which the state makes direct deposits...

Companies mentioned in this report are:
- St. Louis Cnty Sch Dist (Normandy)

Action: Affirmed
Action: New Rating
Action: Outlook: Negative

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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.

- St. Louis Cnty Sch Dist (Normandy)

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