Bienville Parish School District No. 1, LA#s Series 2018 General Obligation Bonds Rated #A-# On Very Strong Finances

Stocks and Financial Services Press Releases Tuesday March 27, 2018 09:49
CENTENNIAL--27 Mar--S&P Global Ratings

CENTENNIAL (S&P Global Ratings) March 26, 2018--S&P Global Ratings assigned its 'A-' long-term rating to Bienville Parish School District No. 1, La.'s series 2018 general obligation bonds. The outlook is stable. "The rating reflects our opinion of the district's very strong finances," said S&P Global Ratings credit analyst Katelyn Batesel.

Offsetting these strengths is our view of the district's lack of significant economic depth and diversity, small and concentrated property base, and large retiree costs relative to the size of its budget. Bienville Parish School District No. 1 is a component of the Bienville Parish School Board, which is responsible for operations and management of the entire parishwide school system, and each individual district acts as a taxing entity for debt issuance and repayment. The stable outlook reflects our anticipation the district will maintain stable operations and strong reserves for the foreseeable future. Consequently, we do not anticipate changing the rating within the two-year outlook horizon.

If the local economy materially grows and develops, resulting in an improvement in income, market value, and tax base concentration metrics, or if the district formalizes more of its key financial management policies and practices, we could raise the rating.

If the district's financial performance deteriorates, reducing its reserves to a level that we no longer consider strong enough to offset its weaker economic metrics, we could lower the rating. 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 the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.

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