Dufur School District No. 29 (Wasco County), OR GO Bonds Assigned Various Ratings

SAN FRANCISCO (S&P Global Ratings) Feb. 4, 2019--S&P Global Ratings assigned 
its 'AA+' long-term rating and 'A' underlying rating to Dufur School District 
No. 29 (Wasco County), Ore.'s series 2019 general obligation (GO) bonds. The 
outlook is stable. The district will have about $4.1 million in governmental 
debt at the end of fiscal 2019. 

"The rating reflects our opinion of the district's adequate-to-good income 
profile and extremely strong market value per capita, growing student 
population, monthly budget-to-actual monitoring, and moderate-to-low debt 
ratios," said S&P Global Ratings credit analyst Chris Morgan.

Proceeds of the district's bonds will fund a variety of school facility 
improvements, including climate control upgrades, circulation changes to 
improve access safety, and upgrades to its Petersburg campus in preparation 
for an expansion.

The stable outlook reflects our view that the district will continue to 
benefit from the revenue effects of weighted average daily membership growth 
and maintain reserves at or slightly above its informal target range while the 
budgetary environment becomes more challenging.
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