Summary: Cloverdale High School Building Corp., Indiana Cloverdale Community School Corp.; School State Program Jun 12

Standard & Poors, June 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' program rating and 'A+' school issuer credit rating (ICR) and stable outlook to Cloverdale High School Building Corp., Ind.'s series 2012 ad valorem property tax first-mortgage bonds, issued for Cloverdale Community School Corp. At the same time, Standard & Poor's affirmed its 'AA+' program rating, with a stable outlook, on the school corporation's existing first-mortgage debt. The program rating reflects our assessment of the school's eligibility for, and participation in, the Indiana State Aid Intercept Program. The strength and availability of state aid to program participants support the program's credit characteristics. The ICR reflects our opinion of the school corporation's creditworthiness, including its: Access to surrounding employment centers; Strong reserves, measured on...

Companies mentioned in this report are: Cloverdale Comnty Sch Corp,Cloverdale Comnty Sch Bldg Corp,Cloverdale Multi Sch Bldg Corp,Cloverdale High Sch Bldg Corp
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Cloverdale Comnty Sch Corp,Cloverdale Comnty Sch Bldg Corp,Cloverdale Multi Sch Bldg Corp,Cloverdale High Sch Bldg Corp

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