Summary: Eastport-South Manor Central School District, New York; General Obligation; School State Program

S&P Global Ratings assigned its 'AA-' rating and stable outlook to Eastport-South Manor Central School District, N.Y.'s series 2019 general obligation (GO) school district refunding serial bonds and affirmed its 'AA-' rating, with a stable outlook, on the district's existing GO debt. The affirmation reflects our opinion of the district's ability to stabilize reserves in fiscal years 2018 and 2019. The district has taken significant steps to right-size revenue and expenses by reducing staff and transportation costs and challenging staff and board of education spending habits. Management will need to continue to balance revenue and expenses in a limited revenue-raising environment for upward rating potential. The district's faith-and-credit GO pledge secures the bonds. Officials intend to use series 2019 bond

...S&P Global Ratings assigned its '##-' rating and stable outlook to Eastport-South Manor Central School District, N.Y.'s series 2019 general obligation (GO) school district refunding serial bonds and affirmed its '##-' rating, with a stable outlook, on the district's existing GO debt. The affirmation reflects our opinion of the district's ability to stabilize reserves in fiscal years 2018 and 2019. The district has taken significant steps to right-size revenue and expenses by reducing staff and transportation costs and challenging staff and board of education spending habits. Management will need to continue to balance revenue and expenses in a limited revenue-raising environment for upward rating potential. The district's faith-and-credit GO pledge secures the bonds. Officials intend to use series 2019 bond proceeds to refund certain maturities of the district. The rating reflects our opinion of the district's: + Extremely strong economy with access to a broad and diverse metropolitan statistical...

Summary