S&P Global Ratings assigned its'AA-'long-term rating to Greenfield, Indiana Building Corp.'s $32.9 million series 2026 lease rental revenue bonds, issued for the City of Greenfield . At the same time, S&P Global Ratings affirmed its'AA-'long-term rating on the city's existing debt. The outlook is stable. Lease payments payable from ad valorem property taxes, subject to state circuit-breaker tax caps but not subject to annual appropriation, secure the series 2026 bonds. Lease rental payments are payable by the City of Greenfield directly to an independent trustee pursuant to a trust indenture between the city and trustee as well as to a lease between the building corporation and the city. We reviewed the lease under our criteria
