Summary: East Porter County School Corp., Indiana; School State Program

S&P Global Ratings assigned its 'AA+' program rating and 'AA-' underlying rating (SPUR) for credit program and stable outlook to East Porter County School Corp., Ind.'s series 2019 general obligation (GO) bonds and affirmed its 'AA+' program rating and 'AA-' SPUR, with a stable outlook, on bonds issued by and for the school corporation. The SPUR reflects our opinion of the district's general creditworthiness, including its: Location in the larger, more-diverse northwestern Indiana employment base with direct access to Chicago, Ill.; Strong median household effective buying income and extremely strong per capita gross assessed value (AV); Stable enrollment, directly tied to its operating revenue; and Consistent maintenance of strong cash-based reserves between the general and rainy day funds. We believe

...S&P Global Ratings assigned its '##+' program rating and '##-' underlying rating (SPUR) for credit program and stable outlook to East Porter County School Corp., Ind.'s series 2019 general obligation (GO) bonds and affirmed its '##+' program rating and '##-' SPUR, with a stable outlook, on bonds issued by and for the school corporation. The SPUR reflects our opinion of the district's general creditworthiness, including its: + Location in the larger, more-diverse northwestern Indiana employment base with direct access to Chicago, Ill.; + Strong median household effective buying income and extremely strong per capita gross assessed value (AV); + Stable enrollment, directly tied to its operating revenue; and + Consistent maintenance of strong cash-based reserves between the general and rainy day funds. We believe somewhat offsetting factors are, what we consider, the district's: + Elevated debt service carrying charges; + Lack of robust financial management policies and practices in certain...

Summary