OREANDA-NEWS. S&P Global Ratings raised its long-term rating and underlying rating (SPUR) to 'AAA' from 'AA+' on Foothill-De Anza Community College District, Calif.'s existing general obligation (GO) bonds. At the same time, S&P Global Ratings raised its long-term rating and SPUR to 'AA+' from 'AA' on the district's existing certificates of participation (COPs). In addition, S&P Global Ratings assigned its 'AAA' long-term rating to the district's 2016 series D (election of 2006) GO bonds, 2016 series E (election of 2006) GO bonds, and 2016 GO refunding bonds. The outlook is stable.

"The rating action reflects our view of the district's continued property wealth improvement and trend of positive operational performances," said S&P Global Ratings credit analyst Michael Parker. "The rating action also reflects our view of the district's improved state funding environment, providing greater funding to community college districts," Mr. Parker added.

The district will use bond proceeds to finance facility upgrades, refund the district's 2011 series C (election of 2006) GO bonds outstanding, and pay the costs of issuance.

The stable outlook reflects our view of the district's very strong and stable economy within Silicon Valley.