Standard & Poor's Ratings Services said it raised its underlying rating on Fremont County School District No. 1, Wyo.'s general obligation refunding bonds to A-plus from A.
The outlook is stable.
"The upgrade reflects a rise in the district's reserve fund balance and an improved economy," said Standard & Poor's credit analyst Michael Stock.
There is "a lot of nervousness in the Treasury market right now" ahead of the FOMC meeting, said Tim Iltz, fixed income credit and market analyst at H.J. Sims. That nervousness helped the 10-year UST hit 5% on Monday.
At stake is at least a $5.9 billion contract and the stability of electrical provision on the island.
Counties and states are moving ahead with replicable, bond-financed affordable housing funding models as new regulations designed to jump start community development are still working their way through the pipeline.
The lowered outlook is a sign of negative momentum for the district, which could affect how its paper prices in the primary and secondary markets.
Most recently, mutual funds saw outflows of $430 million on Friday, driven by negative $544 million fund flows from open-ended funds, offsetting the $113 million of inflows from ETFs, according to J.P. Morgan.
Senators from western states sent a letter to two federal agencies to address preparations for an extended fire season.
