Standard & Poor's Ratings Services said it raised the school issuer credit rating to A-plus from A on Lafayette County R-V School District (Lexington), Mo.
The agency also affirmed its AA-plus enhanced program rating, with a stable outlook, on the district's general obligation bonds. The enhanced rating is based on the district's participation in the Missouri Direct Deposit program.
"The upgrade is due to a substantial improvement in the district's finances that resulted in positive operations for the last three audited fiscal years and cash reserves growing to a strong level." said Standard & Poor's credit analyst John Kenward.
