Standard & Poor’s has raised its underlying rating on Calcasieu Parish School District No. 23’s general obligation debt one notch to A-minus from BBB-plus, citing significant growth in the property tax base and improved wealth and income levels. The outlook is stable.
The improved rating applies to the district’s $37.3 million of outstanding debt and the planned sale of $15 million of public school improvement bonds. Standard & Poor’s is the only agency with an unenhanced rating on the district’s debt.