OREANDA-NEWS. S&P Global Ratings revised its outlook to stable from positive and affirmed its 'A+' underlying rating on Cuero Independent School District, Texas' existing bonds. At the same time, S&P Global Ratings assigned its 'A+' underlying rating and 'AAA' long-term rating and stable outlook to the district's series 2016 unlimited-tax refunding bonds series.

"The stable outlook reflects our view that the district's very strong reserves mitigate its very high taxpayer concentration and volatile taxable value trend," said S&P Global Ratings credit analyst Joyce Jung.

The bonds are secured by revenue from an unlimited ad valorem tax on all property within the district. We understand that bond proceeds will be used to refund the district's debt for savings.