Fairfield Community School District, IA GO Debt Rating Raised To 'A+' On Stable, Very Strong Finances

CHICAGO (S&P Global Ratings) Jan. 10, 2019--S&P Global Ratings raised its 
rating on Fairfield Community School District (CSD), Iowa's outstanding 
general obligation (GO) debt to 'A+' from 'A'. The outlook is stable.

"The higher rating reflects the district's consistently stable, very strong 
finances and other credit characteristics that are commensurate with the 
rating level," said S&P Global Ratings credit analyst Blake Yocom. 

The existing GO bonds are secured by the district's unlimited-tax GO pledge.

Fairfield CSD serves an estimated population of 16,388 in southeast Iowa, 
approximately 25 miles east of Ottumwa. Fairfield is the county seat of 
Jefferson County. The certified enrollment count in October 2018 was 1,622, 
decreasing by 90, or 5.3%, overall from years 2011 to 2019.

"The stable outlook reflects our opinion that district officials will take 
proactive steps to maintain reserves at levels we consider at least strong," 
added Mr. Yocom. Therefore, we do not expect to change the rating within the 
two-year outlook period.