OREANDA-NEWS. S&P Global Ratings assigned its 'AA+' long-term rating and 'A+' underlying rating for credit program to Umatilla and Union Counties School District No. 29RJ Athena-Weston, Ore.'s general obligation (GO) bonds, series 2016. The outlook is stable.

The 'AA+' long-term rating is based on the district's participation in the Oregon School Bond Guaranty program for the series 2016 GO bonds.

"The 'A+' rating reflects our view of the district's extremely strong wealth levels, stable weighted average daily membership growth, very strong available fund balance as a percentage of expenditures, and low overall debt levels," said S&P Global Ratings credit analyst Satomi Suzuki.

The 2016 bond proceeds will be used to finance various capital projects to improve security, energy efficiency, technology, and outdated district facilities.