S&P Global Ratings assigned its ?A+? long-term rating to Underwood Community School District (CSD), Iowa's anticipated $12.52 million series 2025 general obligation (GO) school bonds. At the same time, we affirmed our 'A+' rating on the district?s existing GO debt. The outlook is stable The rating is based on the application of our criteria, " Methodology For Rating U.S. Governments ," published Sept. 9, 2024. The district's unlimited ad valorem tax GO pledge secures the bonds. The bond proceeds will be used for HVAC improvements and remodeling existing facilities. The rating reflects the district?s reserve position, which improved in fiscal 2024 with management?s use of the cash reserve levy. While the recent decline in reserves weakens the financial profile, our
