OREANDA-NEWS. S&P Global Ratings assigned its 'AA+' long-term rating and 'A+' underlying rating for credit program to Malheur County School District No. 26 Nyssa, Ore.'s general obligation (GO) bonds, series 2016. The outlook on all ratings is stable.

The 'AA+' long-term rating is based on the district's participation in the Oregon School Bond Guaranty program for the series 2016 bonds.

"The 'A+' rating reflects our view of the district's strong wealth levels, stable weighted average daily membership, and historical and projected very strong available reserves as a percentage of expenditures," said S&P Global Ratings credit analyst Jen Hansen.

The 2016 GO bond proceeds will be used to finance construction of a new middle school and to pay the costs of issuance of the bonds.