Standard & Poor's Ratings Services said it raised its long-term and underlying ratings to A-plus from A on Pittsburg Unified School District, Calif.'s general obligation bonds.
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At the same time, Standard & Poor's raised its SPUR to A from A-minus on the district's appropriation obligations. The outlook is stable.
"The raised rating reflects our opinion of the district's maintenance of strong reserves, increasing enrollment, and projected increases in state apportionment levels from prior years," said Standard & Poor's credit analyst Jaime Trejo.
The district provides kindergarten to 12th-grade education in and around Pittsburg, which is 50 miles northeast of San Francisco in Contra Costa County.
