...S&P Global Ratings has assigned its 'A' long-term rating to Lincoln Park School District, Mich.'s series 2018 limited-tax general obligation (GO) school building and site bonds. At the same time, we affirmed our 'A' underlying rating on the district's existing GO bonds. The outlook is stable. The series 2018 bonds are secured by a pledge of the district's full-faith-credit-and-resources and an agreement to levy ad valorem property taxes within its boundaries, subject to applicable constitutional and statutory tax rate limitations. Despite the limitations, we rate the limited-tax GO debt at the same level as our view of the district's general creditworthiness as is expressed in the rating on unlimited-tax GO bonds. It is our understanding that bond proceeds will be used to finance various capital improvements to Carr Elementary School. The rating reflects our view of the district's: + Below-average economic metrics, however, stable due to its access to economic opportunities in Wayne County;...
