S&P Global Ratings assigned its 'SP-1+' rating to Eastport-South Manor Central School District (CSD), N.Y.'s series 2023 $20 million bond anticipation notes (BANs). 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. 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 that regularly provides ongoing disclosure to market participants. The rating reflects the district's consistent financial performance, supported by a stable tax base and conservative budgeting practices, which have enabled it to build and maintain
