Standard & Poor’s raised its issuer credit rating on South Carolina’s Chesterfield County School District to A from BBB-plus.
Analysts cited an improved financial position over the past five fiscal years despite a modest fund balance drawdown projected for fiscal 2010, as well as revisions to Standard & Poor’s criteria.
The credit outlook is stable.
At the same time, agency assigned an A rating to the district’s $25.9 million issue of Series 2010 general obligation refunding bonds.