S&P Global Ratings assigned'AA+'program rating and'A'underlying rating to Metropolitan School District of Steuben County , Indiana's approximately $4.77 million series 2026 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its'AA+'long-term rating and'A'underlying rating on existing property tax-backed debt issued by and for the district. 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 school corporation's general creditworthiness, reflecting our expectation that the school corporation will use all resources to
