...S&P Global Ratings assigned its '##+' long-term program rating and 'A+' underlying rating to Lebanon Community School Corp., Ind.'s series 2018 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##+' long-term program rating and 'A+' underlying rating on the school corporation's existing limited tax debt. The outlook on all ratings is stable. 2018 GO bond proceeds will be used for various renovation and improvement projects to school facilities in addition to the purchase of buses, equipment, and technology. The 'A+' rating is based on the school district's ad valorem tax pledge, and reflects our view of its: + Stable local economy, with access to the greater Indianapolis area job base, which supports very strong market value per capita indicators; + Overall enrollment growth in recent years, which we anticipate will remain at least stable for the next few years; and + Positive operations in recent years, with available reserves that have grown to 25% of expenditures...
