Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-minus from A-plus on Fruitvale School District, Calif.'s general obligation bonds.
The outlook is stable.
"The rating action reflects our view of the district's maintenance of a very strong available financial position and adoption of a formal minimum reserve policy well above the state-required minimum," said Standard & Poor's credit analyst Chris Morgan.
The stable outlook reflects the district's very strong available financial position will continue and an improved state funding environment that has facilitated balancing of the district's operations.
