Summary: New Durham Township Metropolitan School District School Corp., Indiana New Durham Township Metropolitan School District School Building Corp.; School State Program

Standard&Poor's Ratings Services affirmed its 'A-' underlying rating on New Durham Township Metropolitan School District School Building Corp., Ind.'s series 2011 ad valorem property tax first-mortgage refunding bonds, issued for New Durham Township Metropolitan School District School Corp. The outlook on the 2011 bonds remains negative, reflecting uncertainty in how quickly the district will be able to stabilize its already thin available reserve position. At the same time, we affirmed our 'AA+' long term rating and underlying rating (SPUR) on the school district's existing debt. The 'AA+' ratings are based on the school district meeting our Indiana State Aid Intercept program rating criteria. The credit characteristics of the rating are supported by the availability of state aid to

...Standard & Poor's Ratings Services affirmed its 'A-' underlying rating on New Durham Township Metropolitan School District School Building Corp., Ind.'s series 2011 ad valorem property tax first-mortgage refunding bonds, issued for New Durham Township Metropolitan School District School Corp. The outlook on the 2011 bonds remains negative, reflecting uncertainty in how quickly the district will be able to stabilize its already thin available reserve position. At the same time, we affirmed our '##+' long term rating and underlying rating (SPUR) on the school district's existing debt. The '##+' ratings are based on the school district meeting our Indiana State Aid Intercept program rating criteria. The credit characteristics of the rating are supported by the availability of state aid to be intercepted to cover debt service payments. The outlook on these ratings is stable. The 'A-' rating also reflects our assessment of the school district's:...

Summary