Standard & Poor’s upgraded its underlying rating on the John Swett Unified School District’s outstanding general obligation debt to A-plus from A ahead of a $13 million bond issue.

“The raised rating reflects our view of the district’s stable tax base and strong unreserved fund balance position,” analyst Andrew Magee said in a report. The rating also reflects the district’s low unemployment rate, strong incomes, and gradually declining enrollment, the report said.

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