Summary: Harper Creek Community Schools, Michigan; School State Program

S&P Global Ratings assigned its 'AA' program rating and 'A+' underlying rating and stable outlook to Harper Creek Community Schools (the district), Mich.'s series 2019 unlimited-tax federally taxable GO refunding bonds, and affirmed its 'A+' underlying rating, with a stable outlook, on the district's existing GO debt. We base the 'AA' program rating on the series 2019 bonds on our "Issue Credit Ratings Linked To U.S. Public Finance Obligors? Creditworthiness" criteria (published Jan. 22, 2018) and our "State Credit Enhancement Programs" criteria (published Nov. 13, 2008). These criteria reflect our view of the district's participation in the Michigan State School Bond Loan Fund Program. Section 16 of Article 9 of Michigan's 1963 Constitution created the program to provide districts with

...S&P Global Ratings assigned its '##' program rating and 'A+' underlying rating and stable outlook to Harper Creek Community Schools (the district), Mich.'s series 2019 unlimited-tax federally taxable GO refunding bonds, and affirmed its 'A+' underlying rating, with a stable outlook, on the district's existing GO debt. We base the '##' program rating on the series 2019 bonds on our "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness" criteria (published Jan. 22, 2018) and our "State Credit Enhancement Programs" criteria (published Nov. 13, 2008). These criteria reflect our view of the district's participation in the Michigan State School Bond Loan Fund Program. Section 16 of Article 9 of Michigan's 1963 Constitution created the program to provide districts with access to funds to avoid a default on qualified debt. Under the program, if a school district fails to meet its debt-service obligation for qualified debt, the state treasurer pays the required debt service...

Summary