S&P Global Ratings assigned its 'A-' rating to Lewis and Clark Community College District, Ill.'s series 2020A general obligation (GO) refunding bonds. At the same time, we affirmed our 'A-' rating on the district's debt outstanding. The outlook is stable. The district's full-faith-and-credit unlimited-tax GO pledge secures the 2020A bonds and other outstanding parity bonds. Proceeds of the 2020A bonds will be used to refund a portion of the district's outstanding debt for interest cost savings. The series 2015B alternative revenue source (ARS) bonds are secured by certain pledged revenue, and to the extent that revenue is insufficient, by the district's unlimited-tax GO pledge. The pledged revenue is a property tax not to exceed 5 cents per $100 of equalized
