Clarksville Community School Corp., IN Debt Rating Outlook Revised To Negative On Elevated Circuit Breaker Losses

Stocks and Financial Services Press Releases Thursday May 31, 2018 09:23
CHICAGO--31 May--S&P Global Ratings

CHICAGO (S&P Global Ratings) May 30, 2018--S&P Global Ratings revised the outlook to negative from stable and affirmed its 'A+' underlying rating on debt issued for Clarksville Community School Corp., Ind. At the same time, we assigned our 'AA+' enhanced long-term rating and 'A+' underlying rating to Clarksville High School Building Corp.'s series 2018 first mortgage bonds, issued for Clarksville Community School Corp. We also affirmed our 'AA+' enhanced long-term rating on the building corporation's existing debt issued on behalf of the school corporation. The outlook on the enhanced long-term rating is stable.

"The outlook revision reflects our view that we could lower the rating if circuit breaker losses continue to increase, leading to pressure on the district's general fund and a reduction in available 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.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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