S&P Global Ratings assigned its 'SP-1+' short-term rating to Hamburg Central School District (CSD), N.Y.'s approximately $28.3 million series 2024 general obligation (GO) bond anticipation notes (BANs). At the same time, S&P Global Ratings affirmed its 'A+' rating on the district's GO debt outstanding. The outlook is stable. The district's faith-and-credit pledge secures the GO debt. We understand the BAN proceeds will provide a renewal issuance of $13.3 million, originally issued on May 30, 2023, and $15 million in additional new money for various capital projects. The affirmation of the long-term rating reflects our view of the district's growing local economy, characterized by increasing market values and an expected surplus at fiscal 2024 fiscal year-end. The anticipated surplus is a
