...February 10, 2025 CHICAGO (S&P Global Ratings) Feb. 10, 2025--S&P Global Ratings lowered its rating to 'A-' from 'A' on Vandercook Lake Public Schools, Mich.'s general obligation (GO) debt outstanding and removed the rating from Under Criteria Observation. The outlook is stable. The rating reflects the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. "The stable outlook reflects the potential significant increase in Vandercook Lake Public Schools' debt burden, which we believe could result in additional budgetary pressure," said S&P Global Ratings credit analyst Emma Steyaert. The district's full faith, credit, resources, and agreement to levy ad valorem property taxes, without limit as to rate or amount, secure the district's GO debt outstanding....