S&P Global Ratings assigned its'AA+'long-term rating (based on credit enhancement) and'A+'underlying rating to North White School Corp ., Indiana's $3.2 million series 2026 general obligation (GO) 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 debt outstanding. The outlook is stable. The 2026 GO bonds are payable from revenue from an ad valorem property tax, subject to state-imposed tax caps (circuit breakers) levied on all taxable property in the school corporation. We rate the limited-tax GO pledge on par with our view of the district’s general creditworthiness, reflecting our expectation that the school corporation will use all resources to service
