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

S&P Global Ratings revised the outlook on its 'A+' underlying rating (SPUR) on Hamburg Central School District, N.Y.'s general obligation (GO) debt to positive from stable and affirmed the rating. At the same time, S&P Global Ratings assigned its 'A+' long-term rating and positive outlook to the district's series 2019 GO school district serial bonds. The outlook revision reflects our opinion of the district posting surpluses during five of the past six fiscal years while projecting another surplus in fiscal 2019, leading to general fund reserves growing to levels we consider strong. If reserves were to continue to grow to levels we consider comparable with higher-rated peers, we could raise the rating. The district's faith-and-credit pledge secures the bonds. Officials

...S&P Global Ratings revised the outlook on its 'A+' underlying rating (SPUR) on Hamburg Central School District, N.Y.'s general obligation (GO) debt to positive from stable and affirmed the rating. At the same time, S&P Global Ratings assigned its 'A+' long-term rating and positive outlook to the district's series 2019 GO school district serial bonds. The outlook revision reflects our opinion of the district posting surpluses during five of the past six fiscal years while projecting another surplus in fiscal 2019, leading to general fund reserves growing to levels we consider strong. If reserves were to continue to grow to levels we consider comparable with higher-rated peers, we could raise the rating. The district's faith-and-credit pledge secures the bonds. Officials plan to use series 2019 bond proceeds, totaling approximately $9.7 million, to finance current bond anticipation notes outstanding, maturing on March 20, 2019, permanently. The rating reflects our opinion of the district's:...

Summary