S&P Global Ratings assigned its 'AA+' long-term and 'A+' underlying ratings to Vincennes Community School Building Corp. , Ind.'s series 2025 $15.61 million first-mortgage bonds, issued for Vincennes Community School Corp . At the same time, S&P Global Ratings affirmed its ?AA+? long-term and 'A+' underlying ratings on the school corporation's existing bonds. The outlook is stable. The 'A+' rating is based on the application of its " Methodology For Rating U.S. Governments ," published Sept. 9, 2024 on RatingsDirect. The series 2025 bonds are secured by lease payments payable from ad valorem property taxes, subject to state circuit-breaker tax caps but not subject to annual appropriation. We have reviewed the lease under our criteria and view the lease terms
