S&P Global Ratings assigned its'AA+'long-term rating (based on program enhancement) and'A+'underlying rating to the Warsaw Multi-School Building Corp. Indiana's approximately $14.9 million series 2026 general obligation (GO) bonds and approximately $20.8 million series 2026 ad valorem property tax first mortgage refunding bonds, issued for Warsaw Community Schools . At the same time, we affirmed our'AA+'long-term rating (based on program enhancement) and'A+'underlying rating on the district’s existing debt. The outlook on all ratings is stable. The series 2026 GO bonds are secured by, and reflect our view of, the district's ad valorem property tax pledge, subject to state circuit-breaker tax caps, which cap the property tax burden for taxpayers based on a percent
