S&P Global Ratings assigned its 'AA+' long-term rating (based on credit enhancement) and 'A' underlying rating to Kokomo School Corp. , Ind.'s roughly $10.2 million series 2025 general obligation (GO) limited tax bonds. At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating (based on credit enhancement) and 'A' underlying rating on the school corporation's existing debt. The outlook on all ratings is stable. Series 2025 GO bonds are secured by ad valorem property taxes subject to state-imposed caps (circuit breakers), which limit the property tax burden for taxpayers based on a percentage of gross assessed value. However, we rate the bonds to be on par with our view of the district's general creditworthiness due to the fungibility
