Taylor School District, MI 2022 School Building, Site Bonds Rated 'A'; Outlook Stable

NEW YORK (S&P Global Ratings) Feb. 28, 2022--S&P Global Ratings assigned its 'AA' long-term rating and 'A' underlying rating to Taylor School District, Mich.'s 2022 school building and site bonds, with a preliminary par amount of $31.855 million. The outlook is stable. The 2022 bonds are secured by the district's full faith and credit, including its ability to levy ad valorem property taxes without limitation as to rate or amount, as approved by voters on Nov. 2, 2021. The bond proceeds will finance a new high school building as well as various technology, building, and furnishing upgrades to district facilities. "The district's 'A' underlying rating is supported by our view of its improving financial position, with reserves growing to 14.2%

...February 28, 2022 NEW YORK (S&P Global Ratings) Feb. 28, 2022--S&P Global Ratings assigned its '##' long-term rating and 'A' underlying rating to Taylor School District, Mich.'s 2022 school building and site bonds, with a preliminary par amount of $31.855 million. The outlook is stable. The 2022 bonds are secured by the district's full faith and credit, including its ability to levy ad valorem property taxes without limitation as to rate or amount, as approved by voters on Nov. 2, 2021. The bond proceeds will finance a new high school building as well as various technology, building, and furnishing upgrades to district facilities. "The district's 'A' underlying rating is supported by our view of its improving financial position, with reserves growing to 14.2% of expenditures in fiscal 2021, which is likely to be sustained in the near term given a supportive state aid environment and federal stimulus funds," said S&P Global Ratings credit analyst Matthew Martin. "The rating also reflects...

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