S&P: York Suburban School District, PA GO Debt Rating Raised To 'A+' From 'A' On Strong Finances
"The higher rating reflects the district's ongoing operating surpluses improving its fund balance to strong, coupled with sustained economic stability and very strong property wealth," said S&P Global Ratings credit analyst Moreen Skyers-Gibbs.
The district's full-faith-and-credit pledge secures the GO bonds. The Act 1 Index under Pennsylvania commonwealth statute restricts a district's ability to raise the tax levy higher than a certain index, which the Pennsylvania Dept. of Education determines. Despite these limitations, we did not make a rating distinction for the limited-tax GO pledge given the district's rating being in the 'A' category. We understand officials intend to use bond proceeds to finance various district improvements.
York Suburban School District serves an estimated population of 21,243 over roughly 10 square miles and is coterminous with Spring Garden Township and approximately half of Springettsbury Township in York County.