S&P lifts Walnut Valley, Calif., school debt to AA-

Standard & Poor's said it raised the underlying rating to AA- from A+ on Walnut Valley Unified School District, Calif.'s general obligation debt.

The outlook is stable.

S&P also said it assigned the AA- standard long-term rating and stable outlook to the district's $29.065 million election of 2007 series A G.O. bonds (measure S), $6.749 million election of 2007 series A G.O. bonds (measure Y) and $12.03 million of series 2008 G.O. refunding bonds.

In total, about $90 million of outstanding debt was affected.

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