Standard & Poor’s this week raised its underlying issuer credit rating to A from A-minus on the Shelby Public Schools District’s general obligation debt, citing the system’s strong finances and management team. The upgrade applies to about $10 million of outstanding debt.

The agency also assigned a AA-minus long-term rating to the school’s upcoming $9.2 million unlimited-tax GO refunding bond issue, based in part on the district’s participation in the Michigan State School Bond Loan Fund program.

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