Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Whiting School Building Corp., Ind.'s series 2013 ad valorem property tax first mortgage bonds, issued for Whiting City School. Standard & Poor's also affirmed its 'AA+' long-term rating on the school's series 2008 general obligation (GO) bonds. The rating reflects our view of the district's eligibility for, and participation in, the Indiana State Aid Intercept Program and its qualifying 2x coverage of debt service with state foundation payments. The outlook is stable. Standard & Poor's rates four types of state programs, in more than 20 states, that provide enhancement for school bond issues: state guarantee, permanent fund, annual appropriation, and state intercept or withholding programs. Each state program is...
Companies mentioned in this report are:
- Whiting City Sch
- Whiting Sch Bldg Corp
Action: New Rating
Action: Outlook: Stable
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