St. Vrain Valley School District No. RE-1J, CO GO Refunding Bonds Assigned #AA# Rating

Stocks and Financial Services Press Releases Friday February 12, 2016 09:16
CENTENNIAL--12 Feb--Standard & Poor's

CENTENNIAL (Standard & Poor's) Feb. 11, 2016--Standard & Poor's Ratings Services assigned its 'AA' long-term rating and underlying rating for credit program to St. Vrain Valley School District No. RE-1J, Colo.'s 2016A general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA' underlying rating for credit program, long-term rating, and underlying rating (SPUR) on the district's previously issued GO debt. The outlook is stable.

"The 'AA' rating reflects our view of such factors as the district's participation in the broad and diverse Boulder County economy, strong-to-very-strong incomes and extremely strong wealth, and continued operational surpluses and very strong reserves," said Standard & Poor's credit analyst Michael Parker.

Officials will use bond proceeds to refund portions of the district's series 2005B and 2009 GO bonds outstanding for interest cost savings.

The stable outlook reflects our opinion of the district's consistently strong financial performance and maintenance of very strong reserves, and anticipation that the district will maintain reserves at or above its reserve policy requirement.

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