Standard & Poor's Ratings Services said it revised the outlook to stable from negative on McFarland Unified School District, Calif.'s general obligation (GO) bonds.
In addition, it assigned its A long-term rating to the district's 2014 series B GO bonds and affirmed its A underlying rating (SPUR) on the district's GO debt outstanding.
"The outlook revision reflects our view of the district's better-than-previously projected unaudited fiscal 2014 performance and reserves, coupled with updated management projections of smaller drawdowns than budgeted numbers," said Standard & Poor's credit analyst Kaiti Wang.
"The rating also reflects our view of the district's low debt burden as a percent of carrying charges and market value," she added.
