Spartanburg School District One has received a credit rating upgrade from S&P Global Ratings. The district’s appropriation public debt rating has been raised to ‘A’ from ‘A-’, reflecting the district’s strong financial profile and commitment to responsible fiscal management. According to the district’s financial advisor, future public general obligation debt of the district would receive an increased rating of A+ by the agency.
Key factors influencing the upgrade include the district’s healthy reserves, consistent operating surpluses, and conservative budgeting practices. S&P noted that Spartanburg One’s available reserves, now nearly 38% of operating revenues, are considered robust compared to similarly rated peers.
The rating also reflects the district’s stable economic profile, prudent planning, and manageable debt burden—even as enrollment is expected to grow by 3–5% over the outlook period.
Looking ahead, S&P assigned a stable outlook, citing confidence that Spartanburg One will continue to maintain structurally balanced operations and preserve its strong financial position while preparing for future capital needs.