Standard & Poor’s upgraded the Moorpark Unified School District’s certificates of participation to A from A-minus based on the its significantly improved financial position.

The agency assigned a stable outlook.  It also assigned an A-plus to the district’s general obligation bonds.

Standard & Poor’s upgraded the rating based on significant improvements over the past few years, according to analyst Kate Parmer. The district has increased its general fund balance almost five-fold, bringing its unreserved fund balance to a strong level, Parmer said.

The district, located in an affluent area north of Los Angeles, has a primarily residential tax base with strong incomes and good access to employment centers in Ventura County and the northwest Los Angeles metro region, according to the report. It also has a low combined direct and overlapping debt burden as a percent of market value.

Offsetting that is the district’s reliance on state funding based on a per-pupil formula.

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