Summary: Lake Orion Community School District, Michigan; General Obligation; School State Program

S&P Global Ratings assigned its 'AA' long-term rating and 'A+' underlying rating to Lake Orion Community Schools, Mich.'s approximately $14.5 million series 2021 refunding general obligation (GO) unlimited-tax and federally taxable GO bonds. At the same time, S&P Global Ratings affirmed its 'A+' underlying rating on the district's existing debt. The outlook on the long-term rating is negative; the outlook on the underlying rating is stable. The district's full-faith-and-credit pledge and power to levy unlimited ad valorem taxes against all taxable property within its boundaries secure the bonds. Officials intend to use the bond proceeds to refund all of the district's outstanding debt issued under the Michigan School Bond Qualification and Loan Program. The 'AA' long-term rating reflects our view

...S&P Global Ratings assigned its '##' long-term rating and 'A+' underlying rating to Lake Orion Community Schools, Mich.'s approximately $14.5 million series 2021 refunding general obligation (GO) unlimited-tax and federally taxable GO bonds. At the same time, S&P Global Ratings affirmed its 'A+' underlying rating on the district's existing debt. The outlook on the long-term rating is negative; the outlook on the underlying rating is stable. The district's full-faith-and-credit pledge and power to levy unlimited ad valorem taxes against all taxable property within its boundaries secure the bonds. Officials intend to use the bond proceeds to refund all of the district's outstanding debt issued under the Michigan School Bond Qualification and Loan Program. The '##' long-term rating reflects our view of the bonds' participation in the Michigan State School Bond Qualification and Loan Program. Section 16 of Article 9 of the Michigan Constitution of 1963 created the program to provide districts...

Summary