S&P Global Ratings assigned its 'AA' long-term rating and 'A+' underlying rating to Berkley School District (SD), Mich.'s $78 million general obligation (GO) unlimited-tax 2024 series II bonds. At the same time, S&P Global Ratings affirmed its 'A+' underlying rating on the district's GO debt outstanding. The outlook on all ratings is stable. The district's full-faith-and-credit and unlimited ad valorem property tax pledge secures the 2024 series II bonds. Officials intend to use the unlimited-tax bond proceeds for various projects across its facilities. Similar to most Michigan school districts, Berkley SD is heavily reliant on state aid funding, determined by enrollment, thus enrollment fluctuations can lead to revenue changes. Given declining birth rates, the district's enrollment continues to wane. However,
