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S&P lifts Ann Arbor, Mich., schools bonds to AA+
Standard & Poor's said it raised the issuer credit rating to AA+ from AA on Ann Arbor Public Schools, Mich.'s $208 million of general obligation bonds.
The outlook is stable.
In addition, S&P also said it assigned an AA+ issuer credit rating to the district's $17.745 million of series 2008 G.O. school building and site bonds.
S&P also said it affirmed the AA- underlying rating on the district's previously issued debt.
The AA- enhanced rating is based on the qualification of the bonds under the Michigan School Bond Loan program.
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