Summary: Kokomo-Center School Building Corp., Indiana Kokomo School Corp; School State Program - S&P Global Ratings’ Credit Research

Summary: Kokomo-Center School Building Corp., Indiana Kokomo School Corp; School State Program

Summary: Kokomo-Center School Building Corp., Indiana Kokomo School Corp; School State Program - S&P Global Ratings’ Credit Research
Summary: Kokomo-Center School Building Corp., Indiana Kokomo School Corp; School State Program
Published Mar 20, 2020
8 pages (3379 words) — Published Mar 20, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA+' long-term program rating and 'A' underlying rating to Kokomo-Center Schools Building Corp., Ind.'s approximately $14.12 million series 2020 ad valorem property tax first mortgage bonds issued on behalf of Kokomo School Corp. At the same time, S&P Global Ratings affirmed its 'AA+' long-term program rating and 'A' underlying rating on the school corporation's outstanding debt issued by and on behalf of the district. The outlook is stable. Management indicates the series 2020 bond proceeds will be used for various renovations and improvement projects to school facilities. The 'AA+' long-term rating reflects our assessment of the Indiana state aid intercept structure as it applies to Kokomo School corporation. The state credit enhancement rating is one

  
Brief Excerpt:

...S&P Global Ratings assigned its '##+' long-term program rating and 'A' underlying rating to Kokomo-Center Schools Building Corp., Ind.'s approximately $14.12 million series 2020 ad valorem property tax first mortgage bonds issued on behalf of Kokomo School Corp. At the same time, S&P Global Ratings affirmed its '##+' long-term program rating and 'A' underlying rating on the school corporation's outstanding debt issued by and on behalf of the district. The outlook is stable. Management indicates the series 2020 bond proceeds will be used for various renovations and improvement projects to school facilities. The '##+' long-term rating reflects our assessment of the Indiana state aid intercept structure as it applies to Kokomo School corporation. The state credit enhancement rating is one notch below our issuer credit rating (ICR) on Indiana (###/Stable), reflecting our view of: + State aid appropriation risks, which, in our view, are partially mitigated by strong state support for the program...

  
Report Type:

Summary

Issuer
Kokomo School Corp.
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Kokomo-Center School Building Corp., Indiana Kokomo School Corp; School State Program" Mar 20, 2020. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Kokomo-Center-School-Building-Corp-Indiana-Kokomo-School-Corp-School-State-Program-2400312>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Kokomo-Center School Building Corp., Indiana Kokomo School Corp; School State Program Mar 20, 2020. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Kokomo-Center-School-Building-Corp-Indiana-Kokomo-School-Corp-School-State-Program-2400312>
  
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