OREANDA-NEWS. S&P Global Ratings Services revised its outlook to positive from stable and affirmed its 'BBB-' long-term rating on Florida Development Finance Corp.'s series 2012 bonds, series 2008A tax-exempt bonds, and series 2008B taxable revenue bonds, issued for the Sculptor Charter School.

"The positive outlook reflects our view of the school's improving liquidity, stable financial operations, solid enrollment and continued demand, and history of strong academic performance relative to the state and district, as well as a long-dated charter renewal out to 2027," said S&P Global Ratings credit analyst Amber Schafer.

The rating further reflects our view of the school's:

Very strong maximum annual debt service coverage for fiscal 2015; Stable enrollment in fall 2015, with a good wait list; Improved days' cash on hand as of fiscal 2015; Strong academic performance, as evidenced by Florida's consistent designation of the charter school as high performing; and Successful history of charter renewals with positive feedback from the authorizer.