Summary: Hamburg Central School District, New York; General Obligation; Note; School State Program

S&P Global Ratings assigned its 'SP-1+' short-term rating to Hamburg Central School District, N.Y.'s series 2018 bond anticipation notes (BANs). At the same time, S&P Global Ratings affirmed its 'A+' underlying rating (SPUR), with a stable outlook, on the district's existing general obligation (GO) debt. The district's faith-and-credit pledge secures the BANs. Officials plan to use series 2018 BAN proceeds to permanently finance current BANs outstanding and fund various improvements districtwide. The short-term rating reflects our view of the application of our criteria for evaluating and rating BANs. In our view, the district maintains a very strong capacity to pay principal and interest when the BANs come due. The district sustains a low market-risk profile because it maintains strong legal

...S&P Global Ratings assigned its 'SP-1+' short-term rating to Hamburg Central School District, N.Y.'s series 2018 bond anticipation notes (BANs). At the same time, S&P Global Ratings affirmed its 'A+' underlying rating (SPUR), with a stable outlook, on the district's existing general obligation (GO) debt. The district's faith-and-credit pledge secures the BANs. Officials plan to use series 2018 BAN proceeds to permanently finance current BANs outstanding and fund various improvements districtwide. The short-term rating reflects our view of the application of our criteria for evaluating and rating BANs. In our view, the district maintains a very strong capacity to pay principal and interest when the BANs come due. The district sustains a low market-risk profile because it maintains strong legal authority to issue long-term debt to take out the BANs, issues debt frequently, and provides ongoing disclosure regularly to market participants. The rating reflects our opinion of the district's:...

Summary