Summary: Auburn City School District, New York; School State Program Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'A+' long-term rating and issuer credit rating (ICR) to Auburn City School District, N.Y.'s 2012 general obligation (GO)school district refunding bonds and affirmed its 'A+' rating on the district's existing GO debt. The 'A+' ratings reflect our opinion of the district's: Somewhat limited local economy, with access to other regional employment centers such as Syracuse; Stable tax base with adequate per capita market valuation and adequate-to-good income levels; Currently strong reserve levels, somewhat offset by recent financial pressure; and Moderate-to-moderately high debt burden with moderate carrying charges, and a large other postemployment benefits (OPEB) liability. The full faith and credit pledge of the school district secures the bonds. The district will use...

Companies mentioned in this report are: Auburn City 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.

Auburn City Sch Dist

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