Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Princeton Independent School District, Texas' series 2005 unlimited-tax GO school building bonds. The 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 that can be used to meet the debt service on bonds guaranteed by the program. The rating on the program is based on the fund's large, high-quality, and liquid assets; adequate asset-to-guaranteed debt ratio and strong legal provisions that limit the maximum amount of school district debt; and sound program operations, including very good underlying credit quality in the participating school districts and no default history. In...
Companies mentioned in this report are:
- Princeton Indpt Sch Dist
Action: New Rating
Action: Outlook: Stable
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