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

S&P Global Ratings revised its outlook on Kokomo School Corp., Ind.'s various outstanding debt obligations to stable from negative. At the same time, S&P Global Ratings affirmed its 'A' underlying rating on the debt. The outlook revision reflects our view that the corporation's fiscal position strengthened in 2017 due to administration's emphasis on correcting the district's fiscal structure and plans to maintain budgetary balance. S&P Global Ratings also assigned its 'A' underlying rating and 'AA+' long-term program rating to the corporation's $14 million ad valorem property tax first mortgage bonds series 2018 issued by Kokomo-Center Schools Building Corp., on behalf of Kokomo School Corp. In addition, S&P Global Ratings affirmed its 'AA+' long-term program rating on the district's previously issued

...S&P Global Ratings revised its outlook on Kokomo School Corp., Ind.'s various outstanding debt obligations to stable from negative. At the same time, S&P Global Ratings affirmed its 'A' underlying rating on the debt. The outlook revision reflects our view that the corporation's fiscal position strengthened in 2017 due to administration's emphasis on correcting the district's fiscal structure and plans to maintain budgetary balance. S&P Global Ratings also assigned its 'A' underlying rating and '##+' long-term program rating to the corporation's $14 million ad valorem property tax first mortgage bonds series 2018 issued by Kokomo-Center Schools Building Corp., on behalf of Kokomo School Corp. In addition, S&P Global Ratings affirmed its '##+' long-term program rating on the district's previously issued bonds. The outlook on all ratings is stable. We base the 'A' underlying rating on the ad valorem property tax pledge. The ad valorem property tax levy is not subject to annual appropriation...

Summary