S&P Global Ratings assigned its 'AA' enhanced rating and 'A-' underlying rating for credit program to Anchor Bay School District, Mich.'s roughly $51.295 million series 2023 unlimited-tax school-building-and-site and refunding general obligation (GO) bonds. S&P Global Ratings also affirmed its 'A-' underlying rating on the district's existing GO debt. The outlook is stable. The district's full-faith-and-credit pledge and power to levy unlimited ad valorem taxes secure the series 2023 GO bonds and existing GO debt. Officials intend to use series 2023 bond proceeds to finance various improvement projects across district facilities and refund series 2013 GO bonds for interest-rate savings. The long-term rating reflects our view of the district's participation in the Michigan State School Bond Loan Fund program. Section
