Fitch Ratings upgraded to AA-plus from AA the Missouri School District direct deposit program. The rating outlook is stable.
The upgrade reflects the strong structural, legal, and administrative protections of the program.
The program structure provides for full and timely payment of debt service from state aid payments. Its guidelines require participating school districts to demonstrate 1.5 times coverage of maximum annual debt service by state aid monies allocated to debt service, in both the year of issuance and two prior fiscal years.