S&P Global Ratings assigned its 'AA+' long-term program rating and 'A+' underlying rating to Marion High School Building Corp., Ind.'s approximately $6.35 million series 2024 ad valorem property-tax first mortgage bonds, issued for Marion Community Schools, based on the application of its criteria, "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. S&P Global Ratings also affirmed its 'AA+' long-term program rating and 'A+' underlying rating on the district's existing property-tax-backed debt. The outlook is stable. Lease payments--payable from ad valorem property taxes, subject to state-imposed tax caps (circuit breakers), which limit the property tax burden for taxpayers based on a percent of gross assessed value (AV)--secure the series 2024 bonds. Lease payments are not subject to appropriation.
