Jan 4 Standard & Poor's Ratings Services raised
its school issuer credit rating (ICR) on Cleveland Municipal
School District, Ohio's general obligation debt to A-minus wi th
a stable outlook fr o m BBB-plus on Friday.
S&P said the upgrade reflects the passage of a tax increase
a nd management's steps to improve operations which h ave
s tabilized t h e district's pr eviously w eak finances.
An upcoming sale of unlimited-tax GO refunding bonds was
rated AA based on the district's participation in Ohio's state
aid intercept program, which provides liquidity and credit
support for the bonds.