Summary: Kokomo School Corp., Indiana; School State Program

S&P Global Ratings assigned its 'AA+' long-term enhanced rating and 'A' underlying rating to Kokomo School Corp., Ind.'s approximately $1.0 million series 2020A and $1.47 million series 2020B general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA+' enhanced 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 2020A and 2020B bond proceeds will be used for various renovations and improvements to school facilities as well as for the purchase of buses and technology improvements. The 'AA+' long-term rating reflects our assessment of the Indiana state aid intercept structure as it applies to Kokomo School Corporation. The state

...S&P Global Ratings assigned its '##+' long-term enhanced rating and 'A' underlying rating to Kokomo School Corp., Ind.'s approximately $1.0 million series 2020A and $1.47 million series 2020B general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##+' enhanced 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 2020A and 2020B bond proceeds will be used for various renovations and improvements to school facilities as well as for the purchase of buses and technology improvements. 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...

Summary