Summary: South Madison Elementary School Building Corp., Indiana South Madison Community School Corp.; School State Program - S&P Global Ratings’ Credit Research

Summary: South Madison Elementary School Building Corp., Indiana South Madison Community School Corp.; School State Program

Summary: South Madison Elementary School Building Corp., Indiana South Madison Community School Corp.; School State Program - S&P Global Ratings’ Credit Research
Summary: South Madison Elementary School Building Corp., Indiana South Madison Community School Corp.; School State Program
Published Sep 30, 2015
6 pages (2751 words) — Published Sep 30, 2015
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Standard&Poor's Ratings Services has assigned its 'A+' underlying rating and 'AA+' enhanced program rating to South Madison Elementary School Building Corp., Ind.'s series 2015 ad valorem property tax first-mortgage refunding bonds, issued on behalf of South Madison Community School Corp. At the same time, we affirmed our 'AA+' program ratings on outstanding first-mortgage bonds issued by various building corporations on behalf of the school corporation. The outlook for all ratings is stable. The 'AA+' program rating is based on the school corporation meeting our Indiana State Aid Intercept program rating criteria and having state aid cover maximum annual debt services (MADS) by more than 2x. The credit characteristics of the rating are supported by the availability of state

  
Brief Excerpt:

...Standard & Poor's Ratings Services has assigned its 'A+' underlying rating and '##+' enhanced program rating to South Madison Elementary School Building Corp., Ind.'s series 2015 ad valorem property tax first-mortgage refunding bonds, issued on behalf of South Madison Community School Corp. At the same time, we affirmed our '##+' program ratings on outstanding first-mortgage bonds issued by various building corporations on behalf of the school corporation. The outlook for all ratings is stable. The '##+' program rating is based on the school corporation meeting our Indiana State Aid Intercept program rating criteria and having state aid cover maximum annual debt services (MADS) by more than 2x. The credit characteristics of the rating are supported by the availability of state aid to be intercepted to cover debt service payments. The 'A+' underlying rating reflects our view of the school corporation's:...

  
Report Type:

Summary

Issuer
South Madison Comnty Sch Corp
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: South Madison Elementary School Building Corp., Indiana South Madison Community School Corp.; School State Program" Sep 30, 2015. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-South-Madison-Elementary-School-Building-Corp-Indiana-South-Madison-Community-School-Corp-School-State-Program-1458209>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: South Madison Elementary School Building Corp., Indiana South Madison Community School Corp.; School State Program Sep 30, 2015. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-South-Madison-Elementary-School-Building-Corp-Indiana-South-Madison-Community-School-Corp-School-State-Program-1458209>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.