S&P Global Ratings assigned its 'AA+' long-term program-enhanced rating and 'A' underlying rating to Metropolitan School District of Steuben County, Ind.'s approximately $5.6 million series 2024 first mortgage bonds, based on the application of its criteria, "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. At the same time, S&P Global Ratings affirmed its 'AA+' long-term program-enhanced rating and 'A' underlying rating on existing property-tax-backed debt issued by and for the district. 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--secure the series 2024 bonds. Lease payments are not subject to appropriation. We rate
