S&P revises Elmira City School District, N.Y. outlook to stable

Sept 27 Fri Sep 27, 2013 4:39pm EDT

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Sept 27 (Reuters) - Standard & Poor's Ratings Services on Friday revised its outlook on Elmira City School District general obligation debt to stable from negative.

The outlook revision reflects district's improved reserve position following structural adjustment to its budget and revised budget assumptions for 2014, S&P said.

At the same time, Standard & Poor's has affirmed its single-A rating on the district's outstanding general obligation debt.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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