Eagle Mountain-Saginaw Independent School District, Texas; General Obligation; School State Program Jul 08

Standard & Poors, July 2008

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' enhanced program rating and 'AA-' issuer credit rating (ICR) to Eagle Mountain-Saginaw Independent School District, Texas' series 2008 unlimited-tax school building general obligation (GO) bonds and affirmed its 'AAA' enhanced program rating and 'AA-' ICR on the district's existing GO bonds. The program rating reflects the Texas Permanent School Fund guarantee's security. The ICR reflects the district's: Participation in the diverse Dallas-Fort Worth metropolitan statistical area (MSA) economy, Revenue-raising flexibility in the local maintenance tax rate under the new school finance legislation, and Consistently strong financial performance and position despite ongoing student enrollment growth pressures. Offsetting credit factors include the district's: Moderately high and increasing debt levels, coupled with significant enrollment-driven additional...

Companies mentioned in this report are:
- Eagle Mountain-Saginaw Indpt Sch Dist

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 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: Full Analysis

- Eagle Mountain-Saginaw Indpt Sch Dist

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