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Lone Star College System, TX's GO Rating Raised To 'AAA' On Solid Financial Performance, Low Debt Jul 09

  • ID: 1887404
  • July 2009
  • Standard & Poors
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Abstract
DALLAS (Standard & Poor's) July 24, 2009--Standard & Poor's Ratings Services said it raised the rating to 'AAA' from 'AA+' on Lone Star College System (formerly known as North Harris Montgomery Community College District), Texas' outstanding general obligation (GO) bonds. The outlook is stable. We also assigned a 'AAA' rating and stable outlook to the district's series 2009 limited-tax GO bonds. "The upgrade reflects the district's record of strong financial performance, low direct debt, and sizable and expanding tax base," said Standard & Poor's credit analyst James Breeding. The rating also reflects the district's: Inclusion in the Houston area's economic base; Stable enrollment trends; Diverse revenue mix of state funding, local property taxes, and student tuition; and Significant revenue-raising flexibility...

Companies mentioned in this report are:
- Lone Star Coll Sys

Action: New Rating
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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- Lone Star Coll Sys

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