S&P Global Ratings assigned its 'AA+' long-term rating and 'A+' underlying rating to Warsaw Community Schools, Ind.'s series 2019 limited-tax general obligation (GO) bonds. At the same time, we affirmed our 'AA+' and 'A+' ratings on the district's existing debt. The outlook is stable. Warsaw Community Schools is in an area with a stable economy that is centered on manufacturing, primarily medical devices. The economy is nonetheless stable and continues to provide credit support. Additional credit support reflects the district's maintenance of strong cash reserves and its ability to make the necessary adjustments in light of enrollment fluctuations. We believe that this will continue to provide financial flexibility and thereby support the rating. The 'A+' underlying rating reflects our view
