Summary: Castleberry Independent School District, Texas; School State Program
- ID: 1714716
- December 2009
- Region: Texas
- Standard & Poors
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services raised its issuer credit rating (ICR) on Castleberry Independent School District, Texas' general obligation (GO) debt three notches to 'A+' from 'BBB+' based on the district's sustained strong financial position. The outlook is stable. Simultaneously, Standard & Poor's affirmed its 'AAA' enhanced program rating, with a stable outlook, on the district's debt, reflecting the district's eligibility for, and participation in, the Texas Permanent School Fund bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed by the program. In our opinion, the 'A+' rating reflects the district's: Very strong financial position, Low debt burden, and Access to the Dallas-Fort Worth metropolitan...
Companies mentioned in this report are: Castleberry Indpt Sch Dist,Texas Perm Sch Fd
Action: Outlook: Stable
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