The 'AAA' rating on Miller Grove Independent School District, Texas' series 2002 GO bonds is based on the security of the Texas Permanent School Fund guarantee. The 'BBB' Standard & Poor's underlying rating (SPUR) on the district's series 2000 parity GO debt reflects the full faith and credit pledge of the district. Credit factors include: A small and rural tax base; and A limited economy, with below-average income levels. Credit factors offsetting these weaknesses include: The district's satisfactory financial performance; and Manageable debt levels after accounting for instructional facilities allotment state aid. Miller Grove Independent School District is a rural school district in the southwestern part of Hopkins County. The local economy is primarily based on agriculture, particularly cattle and...
Companies mentioned in this report are: Miller Grove Indpt Sch Dist
Action: New Rating
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