Summary: San Benito Consolidated Independent School District, Texas; School State Program Nov 11

Standard & Poors, November 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' program rating and 'A' school issuer credit rating (ICR) and stable outlook to San Benito Consolidated Independent School District, Texas' series 2011 unlimited-tax general obligation (GO) refunding bonds and affirmed its 'AAA' program rating and 'A' ICR, with a stable outlook, on the district's existing GO debt. The 'AAA' program rating reflects the credit strength and liquidity of the Texas Permanent School Fund program. The ICR reflects our opinion of the district's: Continuing property tax base expansion, Very strong finances, and Receipt of strong state support for operations and debt service. We believe these strengths are somewhat weakened by the district's: Low wealth and adequate income, and Moderately high debt. An ad...

Companies mentioned in this report are: San Benito Cons Indpt Sch Dist ,Texas Perm Sch Fd
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

San Benito Cons Indpt Sch Dist ,Texas Perm Sch Fd

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