Greenwood School Building Corp., IN General Obligation Debt Rating Raised To 'AA-'; Outlook Stable

NEW YORK (S&P Global Ratings) May 18, 2022--S&P Global Ratings raised its underlying rating one notch on Greenwood School Building Corp., Ind.'s outstanding general obligation (GO) debt to 'AA-' from 'A+'. At the same time, we assigned our 'AA+' long-term enhanced rating and 'AA-' underlying rating to the corporation's roughly $10.3 million series 2022 first-mortgage GO bonds, issued for Greenwood Community School Corp. The outlook is stable. "The upgrade of the underlying rating reflects continued positive budgetary performance, resulting in available cash reserves that have more than doubled since calendar year 2016," said S&P Global Ratings credit analyst Michael Mooney. "It further reflects the fact that the local economy remains stable and officials report that leading taxpayers and employers have

...May 18, 2022 NEW YORK (S&P Global Ratings) May 18, 2022--S&P Global Ratings raised its underlying rating one notch on Greenwood School Building Corp., Ind.'s outstanding general obligation (GO) debt to '##-' from 'A+'. At the same time, we assigned our '##+' long-term enhanced rating and '##-' underlying rating to the corporation's roughly $10.3 million series 2022 first-mortgage GO bonds, issued for Greenwood Community School Corp. The outlook is stable. "The upgrade of the underlying rating reflects continued positive budgetary performance, resulting in available cash reserves that have more than doubled since calendar year 2016," said S&P Global Ratings credit analyst Michael Mooney. "It further reflects the fact that the local economy remains stable and officials report that leading taxpayers and employers have remained stable throughout the COVID-19 pandemic," he added. Officials intend to use series 2022 bond proceeds to fund various renovations at Greenwood High School, Northeast...

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