Summary: Derry Area School District, Pennsylvania; General Obligation Oct 09

Standard & Poors, October 2009

Abstract
Standard & Poor's Ratings Services raised its underlying rating (SPUR) on Derry Area School District, Pa.'s general obligation (GO) debt one notch to 'A+' from 'A' based on the district's improved financial position. The outlook is stable. Standard & Poor's assigned its 'A+' long-term rating, and stable outlook, to the district's series 2009 GO bonds. The ratings also reflect our view of the district's: Stable local economy that participates in the Pittsburgh metropolitan statistical area (MSA), Adequate wealth and income levels, Conservative budgeting practices that contribute to strong fund balance levels, and Moderate debt levels. The district's full faith and credit pledge secures the bonds. The Pennsylvania State Aid Intercept program also secures the bonds and acts as a floor...

Companies mentioned in this report are:
- Derry Area Sch Dist

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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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.

- Derry Area Sch Dist

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