McClain County ISD 15, Okla., Upgraded to A by S&P

Standard & Poor's Ratings Services said it raised its underlying rating to A from A-minus on McClain County Economic Development Authority, Okla.'s educational facilities lease revenue bonds, issued on behalf of McClain County Independent School District No. 15 (Purcell).

"The upgrade reflects our view of management's ability to rebuild reserve levels during the past three years to very strong levels, albeit on a modified accrual basis, coupled with rapid amortization of principal," said Standard & Poor's credit analyst Sarah Smaardyk.

At the same time, Standard & Poor's assigned its A long-term rating to McClain County Economic Development Authority, Okla.'s educational facilities lease revenue refunding bonds, issued on behalf of McClain County Independent School District No. 15 (Purcell). The outlook is stable for all ratings.

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