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Hood River County School District, OR GO Rating Raised To 'AA-' On Improved Financial Position

Hood River County School District, OR GO Rating Raised To 'AA-' On Improved Financial Position

SAN FRANCISCO (S&P Global Ratings) Jan. 25, 2019--S&P Global Ratings raised its underlying rating to 'AA-' from 'A+' on Hood River County School District, Ore.'s series previously issued general obligation bonds. The outlook is stable. The district will have about $83.7 million in governmental debt at the end of fiscal 2019.

"The rating action reflects our view of the district's sustained improvement in its available financial position to what we consider a very strong level," said S&P Global Ratings credit analyst Chris Morgan. "This occurred because the district took advantage of higher state funding formula revenue and better supplemental operating levy performance while holding back on spending growth in anticipation of rising pension contribution rates," Mr. Morgan added. The stable outlook reflects our view that the district will sustain a very strong available financial position as it manages a more challenging budgetary environment.

RELATED RESEARCH

  • U.S. State And Local Government Credit Conditions Forecast, Oct. 24, 2018
  • Alternative Financing: Disclosure Is Critical To Credit Analysis In Public Finance, Feb. 18, 2014

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.

 

Primary Credit Analyst:
Chris Morgan, San Francisco (1) 415-371-5032; chris.morgan@spglobal.com
Secondary Contact:
Benjamin P Geare, San Francisco + 1 (415) 371 5047; benjamin.geare@spglobal.com