S&P Global Ratings assigned its 'AA-' rating to Eastport-South Manor Central School District, N.Y.'s approximately $10.6 million series 2020 general obligation (GO) school district refunding bonds. At the same time, we affirmed our 'AA-' rating on the district's existing debt. The outlook is stable. The district's faith and credit secures the bonds. The proceeds will be used to refund the district's outstanding 2011 bonds and are expected to yield a net present value savings of about 7%. The rating reflects our opinion of the district's very strong economic metrics and moderate reliance on state aid as a revenue source, in combination with recent improvement in its financial profile, including increased financial flexibility. The district's general fund revenue is primarily sourced
