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Harlingen Consolidated Independent School District, TX ICR Raised To 'AA-' On Very Strong Financial Position Dec 09 Product Image

Harlingen Consolidated Independent School District, TX ICR Raised To 'AA-' On Very Strong Financial Position Dec 09

  • ID: 1828995
  • December 2009
  • Standard & Poors

Abstract
DALLAS (Standard & Poor's) Dec. 2, 2009--Standard & Poor's Ratings Services raised its issuer credit rating (ICR) one notch to 'AA-' from 'A+' on Harlingen Consolidated Independent School District, Texas. At the same time, Standard & Poor's affirmed its 'AAA' enhanced rating on the district's outstanding general obligation (GO) bonds. The outlook on all ratings is stable. "The raised rating is based on the district's historically very strong financial position," said Standard & Poor's credit analyst Lauren Spalten. The enhanced rating reflects what we consider the strength and liquidity of the Texas Permanent School Fund. We believe Harlingen Consolidated Independent School District's financial position is very strong. The district has achieved general fund surpluses after transfers in seven of the...

Companies mentioned in this report are: Harlingen Cons Indpt Sch Dist
Action: Affirmed
Action: Outlook: Stable
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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