Summary: Merrill Lynch Puttable FLOATs/RITES Trust Series MT-826 Lamar Consolidated Independent School District, Texas; Tender Option Certificates/Bonds Nov 12
- Language: English
- Published: November 2012
- Region: Texas
Standard & Poor's Ratings Services has raised its underlying rating (SPUR) and issuer credit rating (ICR) on Lamar Consolidated Independent School District, Texas' general obligation (GO) debt to 'AA' from 'A+' based on the significant expansion of the local tax base coupled with a consistent trend of operating surpluses, which have considerably strengthened the district's financial position. In addition, Standard & Poor's affirmed its 'AAA' enhanced rating on the debt, reflecting the security of the Texas Permanent School Fund guarantee. The 'AA' ratings continue to reflect the district's: Access to the strong Houston metropolitan statistical area (MSA) economic base; and Consistently strong financial performance. A higher rating is precluded by the district's high overall net debt levels. Lamar Consolidated Independent...
Companies mentioned in this report are:
- Lamar Cons Indpt Sch Dist
Action: Outlook: Stable
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