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
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