S&P Global Ratings assigned its'AA+'long-term and underlying ratings to Morris School District Board of Education (BOE), New Jersey's $158.394 million series 2026 general obligation (GO) school bonds. The outlook is stable. The bonds are secured by Morris BOE's full faith and credit GO pledge. The New Jersey Fund for Support of Free Public Schools Program provides additional support, with the program pledging a portion of the state fund's assets for a school district's debt service should it be unable to meet principal and interest payments (For more information, see"New Jersey Credit Enhancement Programs ,"July 11, 2024). The long-term rating reflects our opinion of the district's underlying credit quality because it is higher than the state
