Summary: Westfield Central School District, New York; School State Program Dec 12

Standard & Poors, December 2012

Abstract
Standard & Poor's Ratings Services affirmed its 'A+' rating, with a stable outlook, on Westfield Central School District, N.Y.'s general obligation debt. The rating reflects our opinion of the district's general creditworthiness, including its: Limited local economy, reflected by modest population and enrollment decreases; Adequate wealth and income; Good financial profile; and Low debt profile with a rapid amortization schedule. We believe financial pressure, including a reliance on state aid and property tax limitations, somewhat offsets these credit strengths. In addition, the New York State Aid Intercept program provides additional bond security. The 49-square-mile Westfield Central School District, in Chautauqua County (A+/Negative), is on Lake Erie, approximately nine miles north of the Pennsylvania border. The district served a 2011 population...

Companies mentioned in this report are:
- Westfield Cent Sch Dist

Action: Affirmed
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.

- Westfield Cent Sch Dist

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