School Town of Munster, IN Outlook Revised To Positive On Improved #BB# Underlying Rating Affirmed

Stocks and Financial Services Press Releases Tuesday August 15, 2017 09:37
CHICAGO--15 Aug--S&P Global Ratings

CHICAGO (S&P Global Ratings) Aug. 14, 2017--S&P Global Ratings revised its outlook to positive from stable and affirmed its 'BB' underlying rating on Munster School Building Corp., Ind.'s first-mortgage bonds, issued for School Town of Munster (the school corporation or district).

In addition, we affirmed our 'AA+' long-term program rating, with a stable outlook, on previously rated bonds. "The positive outlook on the underlying reflects our view that there is one-in-three chance the rating could improve over the next two years," said S&P Global Ratings credit analyst Anna Uboytseva.

We view the alignment between revenues and expenditures as much improved due largely to the districts success in obtaining new referendum levies and the administration's heightened emphasis on correcting the district's fiscal structure in the past two budgets.

The positive outlook reflects our belief that there is a one-in-three chance the underlying rating could be raised in the next two years.

Eliminating the chronic operating fund deficit could strengthen credit quality by improving the district's ability to fund its obligations--including its high debt service costs--under a variety of economic and revenue scenarios. The school corporation is located in Lake County, approximately 24 miles southeast of Chicago.

The district serves an estimated population of 23,456 and its boundaries are coterminous with those of the town of Munster. Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information.

Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com and atwww.spcapitaliq.com.
All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.

Latest Press Release

Fitch Rates ICBCTL#s Senior Notes #AAA(tha)#

Fitch Ratings (Thailand) Limited has assigned ICBC (Thai) Leasing Company Limited's (ICBCTL, AAA(tha)/Stable/F1+(tha)) upcoming long-term senior unsecured notes a National Long-Term Rating of 'AAA(tha)'. The notes will be issued under ICBCTL's THB30...

UnionPay offers foodies exclusive fine dining experiences at a special price At Bangkok Restaurant Week 2018

The highly anticipated Bangkok Restaurant Week 2018 from Wongnai is here. The annual festival is bringing foodies fine dining experiences and special deals from over 50 most well-known restaurants across Bangkok. UnionPay, the best payment companion for...

TCEB unveils its 2019 strategy under a brand-new campaign Thailand: REDEFINE Your Business Events

TCEB today announced a launch of its new brand marketing communication campaign "Thailand: Redefine Your Business Events". The new campaign has prompted the bureau to redefine its role as an industry's partner for success. Tapping into the growing...

L1 Treasury จับมือ Airborne Capital ทุ่มทุน 250 ล้านดอลลาร์สหรัฐ เปิดตัว AltitudeOne Aviation

- AltitudeOne Aviation Ltd ("AltitudeOne Aviation") เป็นธุรกิจร่วมทุนที่เปิดตัวโดย LetterOne Treasury Services SA ("L1 Treasury") และ Airborne Capital Limited ("Airborne Capital") - AltitudeOne Aviation จะลงทุนในพอร์ตหลากหลายประเภท...

L1 Treasury and Airborne Capital Commit US$250m to Launch of AltitudeOne Aviation

- AltitudeOne Aviation Ltd ("AltitudeOne Aviation") is a venture launched by LetterOne Treasury Services SA ("L1 Treasury") and Airborne Capital Limited ("Airborne Capital") - AltitudeOne Aviation will invest in a diversified portfolio of in-production...

Related Topics