Summary: Hico Indpt Sch Dist, TX; Tax Secured, School State Program

  • ID: 1785358
  • August 2002
  • Standard & Poors
1 of 3

The 'AAA' rating on Hico Independent School District, Texas' unlimited-tax school building bonds reflects the credit enhancement provided by the Texas Permanent School Fund. The permanent fund, under Article VII, Section 5 of the Texas Constitution, permits the use of its endowment to ensure bondholders of timely debt service payments. In the event of a potential default, the school district must notify the commissioner no later than five days before the maturity date of the guaranteed debt. The commissioner will then pay debt service to the paying agent and direct the state to later withhold district state aid to repay the permanent fund. This guarantee program reflects the fund's strong asset quality and the legal provisions limiting the maximum amount...

Companies mentioned in this report are: Hico Indpt Sch Dist,Texas Perm Sch Fd
Action: New Rating

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

Hico Indpt Sch Dist,Texas Perm Sch Fd

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown


  • Quick Help: This Credit Rating Report will be emailed to you.


If you have a more general question about our products please try our


Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer Inc.