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Argyle Independent School District, TX Issuer Credit Rating Raised To 'A+' From 'A-' On Very Strong Financial Reserves
Standard & Poors, May 2011
Abstract
DALLAS (Standard & Poor's) May 13, 2011--Standard & Poor's Ratings Services raised its issuer credit rating (ICR) on Argyle Independent School District, Texas' general obligation (GO) debt two notches to 'A+' from 'A-'. The outlook remains stable. Standard & Poor's also affirmed its 'AAA' enhanced program rating on the district's GO bonds. 'The upgrade is based on the district's maintenance of very strong financial reserves,' said Standard & Poor's credit analyst Horacio Aldrete-Sanchez. The program rating reflects the Texas Permanent School Fund guarantee's security. The ICR reflects our opinion of the district's: High wealth and income levels and access to employment opportunities throughout the Dallas-Fort Worth metropolitan statistical area (MSA); Diverse and stable property tax base, which has benefited from...
Companies mentioned in this report are: Argyle Indpt Sch Dist
Action: Affirmed
Action: Upgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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