S&P Global Ratings assigned its 'SP-1+' rating to Eastport-South Manor Central School District (CSD), N.Y.'s series 2024 $55 million bond anticipation notes (BANs). At the same time, we affirmed our 'AA-' rating on the district's general obligation (GO) debt outstanding and our 'SP-1+' rating on its BANs outstanding. The outlook is stable. The district's faith and credit secures the BANs. The proceeds will be used to finance district building-related capital projects and improvements in line with the district's 2022 referendum. The short-term rating reflects our criteria for evaluating and rating BANs. In our opinion, the district's market risk profile is low because it has strong legal authority to issue long-term debt to refund the notes and is a frequent issuer
