...S&P Global Ratings assigned its '##+' program rating and 'A+' underlying rating to Concord Community School Building Corp., Ind.'s series 2019 ad valorem property tax first-mortgage bonds. At the same time, we affirmed our '##+' program rating and 'A+' underlying rating on the building corporation's existing debt. All debt was issued on behalf of Concord Community Schools. The outlook is stable. The district expects to use the bond proceeds from the series 2019 bonds to finance various capital improvement projects. Concord Community Schools, with a stable economic base, continues to benefit from its location in Elkhart County, which is the regional manufacturing hub centering on recreational vehicle (RV) and related vehicle production. While ongoing expansion continues to boost employment and generate growth, there is economic vulnerability due to the heavy concentration in manufacturing. Nonetheless, the growth has fueled increases in enrollment, boosting revenues, which are directly tied...
