S&P Global Ratings lowered its issuer credit rating (ICR) to'A+'from'AA-'on Monroe Village , New York. At the same time, S&P Global Ratings assigned its'A+'long-term rating to the village’s $5.1 million series 2026 public improvement bonds. In addition, S&P Global Ratings affirmed its ‘SP-1+’ short-term rating on the village’s bond anticipation notes (BANs) outstanding. The outlook is negative. The downgrade reflects our view of the expected weakening of the village’s general fund reserves in fiscal 2026 beyond our expectations, as a result of significant spending on one-time capital projects. The negative outlook reflects our view that there is at least a one-in-three chance that we could lower the rating if reserves do not materially improve
