S&P Global Ratings assigned its'AA+'long-term enhanced rating and'AA-'underlying rating to Southwest Allen Multi-School Building Corp. , Indiana's approximately $32 million series 2026 ad valorem property-tax first-mortgage bonds, issued for Southwest Allen County Metropolitan School District . We also affirmed our'AA+'long-term enhanced rating and'AA-'underlying rating on the district's outstanding general obligation (GO) debt. The outlook is stable. The series 2026 bonds and the district's outstanding ad valorem property-tax first-mortgage bonds are secured by lease rentals payable from ad valorem property taxes. The tax levy is mandatory and not subject to appropriation, though it is subject to state circuit-breaker limitations. We rate the debt at the same level as the district's general creditworthiness, reflecting
