Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Lodi Unified School District, Calif.'s series 2012 general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'A+' underlying rating (SPUR) on the district's existing GO debt and 'A' SPUR on the district's existing certificates of participation (COPs). Standard & Poor's also affirmed its 'A+' long-term rating on the Lodi Unified School District School Facilities Improvement District No. 1 (SFID), Calif.'s existing GO bonds. The outlook on all ratings is stable. The ratings reflect our view of: The districts' strong tax base, despite recent assessed value (AV) declines, and strong incomes; Very strong reserve levels; and Good financial management policies and practices. The preceding credit...
Companies mentioned in this report are:
- Lodi Unif Sch Dist
- Lodi Unif Sch Dist Sch Facs Improv Dist No. 1
Action: New Rating
Action: Outlook: Stable
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