Summary: Marion Community Schools, Indiana Marion High School Building Corp; School State Program

S&P Global Ratings assigned its 'AA+' long-term enhancement rating and 'A+' underlying rating to Marion High School Building Corp., Ind.'s approximately $4.5 million series 2021A, approximately $4.0 million series 2021B, and approximately $1.4 million series 2021C first mortgage bonds, issued for Marion Community Schools. At the same time, S&P Global Ratings affirmed its 'AA+' long-term enhancement rating and 'A+' underlying rating on existing debt issued by and on behalf of the school corporation. The outlook is stable. Proceeds from all three series of 2021 bonds will be used to finance various renovation and improvement projects to existing school facilities and to reimburse the school corporation for improvements already made. The series 2021A-C first mortgage bonds are secured by lease payments

...S&P Global Ratings assigned its '##+' long-term enhancement rating and 'A+' underlying rating to Marion High School Building Corp., Ind.'s approximately $4.5 million series 2021A, approximately $4.0 million series 2021B, and approximately $1.4 million series 2021C first mortgage bonds, issued for Marion Community Schools. At the same time, S&P Global Ratings affirmed its '##+' long-term enhancement rating and 'A+' underlying rating on existing debt issued by and on behalf of the school corporation. The outlook is stable. Proceeds from all three series of 2021 bonds will be used to finance various renovation and improvement projects to existing school facilities and to reimburse the school corporation for improvements already made. The series 2021A-C first mortgage bonds are secured by lease payments payable from ad valorem property taxes, subject to state circuit-breaker tax caps, but not subject to annual appropriation. Insurance provisions mitigate abatement risk, and we believe construction...

Summary