Wabash City Schools, IN Mortgage Bond Rating Outlook Revised To Stable From Negative On Operating Surplus

Stocks and Financial Services Press Releases Tuesday September 19, 2017 08:56
CHICAGO--19 Sep--S&P Global Ratings

CHICAGO (S&P Global Ratings) Sept. 18, 2017--S&P Global Ratings revised the outlook to stable from negative and affirmed its 'A' underlying rating on Wabash City School Building Corp., Ind.'s ad valorem property tax first mortgage bonds issued on behalf of Wabash City Schools. We also affirmed our 'AA+' program rating on the bonds.

The outlook is stable. "The outlook revision reflects our view of the district's operating surplus in 2016 and expected surplus in 2017, which should further strengthen the district's cash reserves," said S&P Global Ratings credit analyst Benjamin Gallovic. 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 at www.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.


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