Standard & Poor’s raised the issuer credit rating to A-plus from A on Dewitt Public Schools, citing the district’s strong economic and financial position. The outlook is stable.
The upgrade comes as the district prepares to sell roughly $5 million of federally taxable unlimited-tax general obligation bonds. The proceeds will be used to refund outstanding debt.
The agency maintains a AA-minus enhanced long-term rating on the district’s debt based on its qualification under the Michigan State School Bond Loan Fund program.
Dewitt Public Schools is located near Lansing, giving residents “easy access to the diverse employment base and economy,” Standard & Poor’s said.