S&P Global Ratings assigned its 'AA-' long-term rating to Saranac Lake Central School District , N.Y.'s $8.095 million series 2025 GO bonds. At the same time, S&P Global Ratings affirmed its 'AA- ? long-term rating on the district's existing debt. The outlook is stable. The rating reflects the application of our " Methodology For Rating U.S. Governments ," published Sept. 9, 2024. The district's faith-and-credit pledge secures the bonds. Proceeds will finance various renovations to school buildings. The district is also issuing $2.032 million worth of bond anticipation notes (BANs), which we have not been asked to rate. Our 'AA-' rating is supported by the district's stable operating performance, healthy reserve position, and stable tax base that receives economic uplift
