Standard & Poor's Ratings Services said it raised its long-term rating on Parishwide School District of Ascension Parish, La.'s outstanding unenhanced debt to AA from AA-minus.
At the same time, it assigned its AA rating to the board's series 2015 general obligation (GO) school refunding bonds. The outlook is stable.
"The upgrade reflects the district's conservative management that has been setting aside significant funds to address capital needs related to growing enrollment," said Standard & Poor's credit analyst Edward McGlade.
"The ratings reflect our view of the district's historically very strong financial position and low overall debt burden," he added.
