Standard & Poor's Ratings Services assigned its 'AA+' enhanced program rating and 'A+' school issuer credit rating (ICR), and stable outlook, to Maconaquah School Building Corp., Ind.'s series 2010 ad valorem property tax first-mortgage bonds, issued for Maconaquah School Corp. The enhanced program rating reflects the school corporation's eligibility for, and participation in, the Indiana State Aid Intercept program. The ICR reflects, in our opinion, the school corporation's: Location in close proximity to Kokomo, Ind. and Marion, Ind. employment centers in central Indiana; Income level we consider good; General fund balance we consider good, on a cash basis, despite experiencing fluctuations due primarily to delays in property tax collections; and Debt levels we consider low. High unemployment and low per...
Companies mentioned in this report are:
- Maconaquah Sch Corp
- Maconaquah Sch Bldg Corp
Action: New Rating
Action: Outlook: Stable
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