OREANDA-NEWS. S&P Global Ratings assigned its 'AA' rating to Irvine Unified School District School Facilities Improvement District No. 1, Calif.'s 2016 series A general obligation bonds. The outlook is stable.

"The rating reflects our view of the district's access to employment throughout the greater Los Angeles and Orange County economies, coupled with very strong income indicators; steady enrollment growth, which drives revenues under the state funding formula; and strong available fund balances," said S&P Global Ratings credit analyst Kaila Spalinger.

Bond proceeds will be used to finance capital improvements approved in the 2016 election.