...S&P Global Ratings assigned its 'A' underlying rating and negative outlook and '##+' long-term rating and stable outlook to the ad valorem property tax first mortgage bonds series 2016 bonds issued by Kokomo-Center Schools Building Corp., on behalf of Kokomo School Corp., Ind. At the same time, we affirmed our '##+' long-term rating on the district's previously rated bonds, reflecting the school corporation's eligibility for, and participation in, the Indiana State Aid Intercept program. The outlook on the program rating is stable. We also affirmed our 'A' underlying rating with a negative outlook on the previously rated obligations. The district's aggregate property tax levy is subject to the circuit-breaker limitations, yet all debt service levies are levied to their full extent, with any circuit-breaker losses first distributed across nondebt service levies. The district was designated as an eligible school district, which means that for the period of 2014 through 2016 it may allocate...
