Standard & Poor's Ratings Services said it raised its rating on Hunterdon Central Regional High School District, N.J.'s general obligation debt one notch to AAA from AA-plus.
The outlook is stable.
The upgrade reflects Standard & Poor's opinion of the district's consistently good financial performance and maintenance of very strong fund balances.
"We do not expect to change the rating within the two-year outlook period," said Standard & Poor's credit analyst Linda Yip. "If any budgetary pressure were to occur that leads to significant financial deterioration, however, we could lower the rating."
The district's full-faith-and-credit-GO pledge secures the bonds. The New Jersey Fund for the Support of Free Public Schools program provides additional bond security.
