Research Update: Port Washington-Saukville School District, WI GO Rating Lowered To 'AA-' On Increased Debt, Fund Balance Draws - S&P Global Ratings’ Credit Research

Research Update: Port Washington-Saukville School District, WI GO Rating Lowered To 'AA-' On Increased Debt, Fund Balance Draws

Research Update: Port Washington-Saukville School District, WI GO Rating Lowered To 'AA-' On Increased Debt, Fund Balance Draws - S&P Global Ratings’ Credit Research
Research Update: Port Washington-Saukville School District, WI GO Rating Lowered To 'AA-' On Increased Debt, Fund Balance Draws
Published May 16, 2025
Published May 16, 2025
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About This Report

  
Abstract:

S&P Global Ratings lowered its rating on Port Washington-Saukville School District , Wis.' existing general obligation (GO) bonds to 'AA-' from 'AA'. At the same time, we assigned our 'AA-' rating to the district's anticipated $49.4 million series 2025 GO promissory notes. The outlook is stable. The downgrade reflects the district's increased debt burden, draws on fund balance reserves to support general fund operations, and consecutive years of operational deficits. The rating is based on the application of our criteria, " Methodology For Rating U.S. Governments ," published Sept. 9, 2024, on RatingsDirect. The bonds are secured by the district's unlimited ad valorem tax GO pledge. The bonds will fund the construction of a new elementary school, demolition of aging

  
Report Type:

Research Update

Issuer
Port Washington-Saukville School District
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Port Washington-Saukville School District, WI GO Rating Lowered To 'AA-' On Increased Debt, Fund Balance Draws" May 16, 2025. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Port-Washington-Saukville-School-District-WI-GO-Rating-Lowered-To-AA-On-Increased-Debt-Fund-Balance-Draws-3371461>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Port Washington-Saukville School District, WI GO Rating Lowered To 'AA-' On Increased Debt, Fund Balance Draws May 16, 2025. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Port-Washington-Saukville-School-District-WI-GO-Rating-Lowered-To-AA-On-Increased-Debt-Fund-Balance-Draws-3371461>
  
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