McIntosh County Independent School District No. 19 (Checotah Public Schools), OK 'A' Rating Affirmed On Stable Finances
CENTENNIAL (S&P Global Ratings) March 8, 2019--S&P Global Ratings affirmed its 'A' long-term rating on Checotah Educational Facilities Authority, Okla.'s educational facilities lease revenue bonds, issued on behalf of McIntosh County Independent School District No. 19 (Checotah Public Schools). At the same time, S&P Global Ratings removed the rating from CreditWatch where it was placed on Dec. 4, 2018, with negative implications. The outlook is stable. The removal of the CreditWatch reflects our access to sufficient information to assess the rating. "While the district experienced deficits in fiscal 2016 and fiscal 2017 that pressured finances, it posted a surplus in fiscal 2018, bringing reserves from a low of 8.1% to 16.1%," said S&P Global Ratings credit analyst Benjamin Burrows. While enrollment declined significantly in 2017, it stabilized in 2018. District officials expect to be able to maintain structurally balanced operations g