Standard & Poor's Ratings Services assigned its 'AAA' enhanced long-term rating and 'AA' issuer credit rating (ICR) to McKinney Independent School District, Texas' series 2011 unlimited tax refunding bonds. At the same time, Standard & Poor's affirmed its 'AAA' enhanced rating, 'AA' ICR, and 'AA' long-term rating on the district's existing general obligation (GO) debt. The outlook on all bonds is stable. The 'AAA' enhanced program rating reflects our view of the guarantee of the Texas Permanent School Fund. The 'AA' ratings reflect our view of the district's: Access to the diverse Dallas-Fort Worth metropolitan statistical area; Consistent assessed value (AV) growth, spurred by residential and commercial development; and Strong general fund reserves. Offsetting factors include our view of the...
Companies mentioned in this report are:
- McKinney Indpt Sch Dist
Action: New Rating
Action: Outlook: Stable
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