OREANDA-NEWS. S&P: Lee County School District, FL COP Debt Rating Raised To 'AA-' On Increased Wealth Levels, Strong Financial Performance Centennial S&P Global Ratings raised its long-term rating on Lee County School District, Fla.'s certificate of participation (COP) debt to 'AA-' from 'A+'. At the same time, S&P Global Ratings assigned its 'AA-' long-term rating to the district's series 2016A COPs, which are secured by lease payments from the district to the Florida School Board Association. The outlook is stable.

"The rating change reflects the district's expanding property tax base and increasing wealth levels, coupled with the district's strong financial performance," said S&P Global Ratings credit analyst Daniel Hughes.

S&P Global Ratings also raised its long-term rating on Gulf Breeze, Fla.'s local government loan program floating-rate demand revenue bonds, supported by the district, to 'AA-' from 'A+'. The bonds are special obligations of Gulf Breeze and are payable solely from monies on deposit in funds and accounts created by the 1985L indenture, and from lease payments made by the district pursuant to a certificate purchase agreement between the district and the city.