S&P Global Ratings lowered its long-term rating (based on credit enhancement) to'AA'from'AA+'on Lebanon Community School Corp. , Indiana's intercept program-qualified debt. The outlook on the long-term rating is negative. At the same time, S&P Global Ratings revised the outlook to negative from stable and affirmed its'A+'underlying rating on the school corporation's property tax-backed debt outstanding. Finally, S&P Global Ratings assigned its'AA'long-term rating (based on credit enhancement) and'A+'underlying rating, both with a negative outlook, to Lebanon Middle School Building Corp.'s $35 million series 2026B ad valorem property tax first-mortgage bonds, issued for Lebanon Community School Corp. The lower long-term rating linked to the enhancement program is driven by a weakened
