S&P Global Ratings assigned its ?A+? rating to Hanover Area School District , Pa.?s $6.5 million series 2025 limited-tax general obligation (GO) refunding bonds. The rating reflects the application of our criteria, ? Methodology for Rating U.S. Governments ,? published Sept. 9, 2024, on RatingsDirect. The outlook is stable. The bonds will be used to refund the district?s outstanding series 2025 GO bonds which were issued to fund the purchase of a building that will be used to house a consolidated elementary school. The bonds are secured by the district?s full-faith-and-credit pledge and are payable from ad valorem taxes which are levied on all taxable real property within the district. Its taxing power for debt service is limited by Pennsylvania?s
