Standard & Poor's Ratings Services said it raised its underlying rating to AA-minus from A-plus on Berryessa Union School District, Calif.'s general obligation bonds.
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At the same time, it assigned its AA-minus long-term rating to the district's 2015A GO bonds. The outlook is stable.
"The higher rating reflects the district's continued strong-to-very strong reserves and the renewal of its parcel tax," said Standard & Poor's credit analyst Kate Burroughs.
"The ratings further reflect our view of the district's good financial management policies and practices," she added.
Other factors include its: deep and diverse economic base, with full participation in the San Jose metropolitan area and very strong wealth and income levels.
