Standard & Poor's Ratings Services said it raised its issuer credit rating (ICR) on Rock Community Fire Protection District, Mo., to A from A-minus and its long-term rating on the district's series 2013 general obligation bonds to A from A-minus.
The outlook is stable.
"The rating action reflects our opinion of an improving reserve position, stemming from the ability to now levy a specific debt service tax to cover debt obligations, as opposed to using the operating budget," said Standard & Poor's credit analyst John Sauter.
S&P also withdrew its long-term rating on the district's series 2008 certificates of participation, which have been refunded.
"The A rating reflects our opinion of the district's currently strong reserves (on a modified cash basis of accounting) that are likely to improve over the outlook period," said Sauter.
