Standard & Poor's Ratings Services said it raised its long-term rating to A from A-minus on Dwight Common School District No.232 (Livingston and Grundy Counties), Ill.'s series 2010 taxable general obligation school bonds.
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The outlook is stable.
"The upgrade reflects our view of the significant improvement in district's cash reserves," said Standard & Poor's credit analyst Blake Yocom, "and management's projections of positive operations for fiscal years 2014 and 2015, based on the recent increase in revenue and various expenditure cuts."
