Summary: Frisco Independent School District, Texas; General Obligation; School State Program May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' program rating and 'AA+' school issuer credit rating (ICR), and stable outlook, to Frisco Independent School District, Texas' series 2011A unlimited-tax general obligation (GO) school building and refunding bonds. At the same time, Standard & Poor's affirmed its 'AAA' program rating, with a stable outlook, on certain series of the district's bonds and its 'AA+' ICR and long-term rating, with a stable outlook, on certain series of the district's bonds. The 'AAA' enhanced program rating reflects 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...

Companies mentioned in this report are:
- Frisco Indpt Sch Dist
- Texas Perm Sch Fd

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

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.

- Frisco Indpt Sch Dist
- Texas Perm Sch Fd

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