PHOENIX- Standard & Poor's revised its outlook to positive from stable on Wright Elementary School District, Calif.'s general obligation bonds, and affirmed its A-plus rating.
Improving economic conditions drove the brighter outlook, the rating agency announced this week.
"The outlook revision reflects our view of the district's improvement in key economic indicators, along with a continued trend of positive operational performance, leading to an increase in fund balances," said S&P analyst Michael Parker.
"The rating reflects our view of the district's participation in the Santa Rosa economy, very strong assessed value, and strong financial position," the agency said.
The district in Sonoma County, had almost $7.8 million of GO bonds outstanding as of June 2013. Founded in 1865, the district encompasses about 5.5 square miles serving approximately 1,615 students. The district operates three elementary schools. The district last issued bonds in 2012, but has a 2016 series is planned.
