Standard & Poor's Ratings Services said it raised its underlying rating to A-plus from A on Meridian Public Schools, Mich.'s existing general obligation debt.
At the same time, Standard & Poor's assigned its A-plus underlying rating and its AA-minus long-term rating to the district's series 2015 GO refunding bonds.
The long-term rating is based on the district's participation in the Michigan School Bond Loan Fund. The outlook on all ratings is stable.
"The raised rating reflects our view of the district's continued strong reserves and positive enrollment trend," said Standard & Poor's credit analyst David Smith. "The rating further reflects our view of the district's moderate debt burden."
Meridian Public Schools serves an estimated population of 10,554 in Midland County and is located 10 miles northwest of the city of Midland and 90 miles northeast of Lansing.
