Standard & Poor's Ratings Services said it raised its long-term rating, school issuer credit rating and underlying rating to AA from AA-minus on Northwestern Lehigh School District, Pa.'s general obligation bonds.
At the same time, Standard & Poor's assigned its AA rating and ICR to the district's series 2014 GO bonds. The outlook is stable.
"The upgrade reflects the district's proactive management and conservative budgeting practices that have resulted in liquidity sufficient to cover principal at risk of acceleration," said Standard & Poor's credit analyst Hilary Sutton.
Located in central eastern Pennsylvania, Northwestern Lehigh School District encompasses a 107-square-mile section of Lehigh County and has a population of roughly 15,500.