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Beaumont Independent School District, Texas; General Obligation; School State Program
Standard & Poors, April 2009
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating, with a stable outlook, to Beaumont Independent School District, Texas' series 2009 unlimited tax school building bonds. At the same time, Standard & Poor's affirmed its 'AA-' issuer credit rating (ICR), with a stable outlook, and the 'AAA' enhanced rating on the district's existing general obligation (GO) debt. The enhanced ratings reflect the enhancement of the Texas Permanent School Fund. The ICR reflects our view of the district's: Stable economic base despite the significant presence of the petrochemical sector; Strong reserve levels; and Moderate overall net debt burden. Property tax base concentration associated with the petrochemical industry and an increasing debt burden as debt is issued over the next few years...
Companies mentioned in this report are: Beaumont Indpt Sch Dist
Action: New Rating
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