Summary: North Harris Montgomery Comnty Coll Dist, TX; Tax Secured, General Obligation Jul 02

Standard & Poors, July 2002

Abstract
The limited tax GO building and refunding bonds issued by North Harris Montgomery Community College District, Texas are secured by a limited ad valorem tax pledge of the district. The upgrade to 'AA' reflects the district's: Significant tax base and student enrollment growth largely attributed to recent district annexations, and Decreased overall debt levels. Other rating factors include: Inclusion in the diversified Houston MSA service area economy, and Strong financial operations characterized by revenue diversity and flexibility. Offsetting credit factors include a significant, although manageable, capital program driven by rapid student enrollment growth and high, although diminished, overall debt to market value indicators. The North Harris Montgomery Community College District service area encompasses 11 member school districts and more than...

Companies mentioned in this report are: Lone Star Coll Sys FKA North Harris Montgomery Comnty Coll Dist
Action: New Rating

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Lone Star Coll Sys FKA North Harris Montgomery Comnty Coll Dist

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