Standard & Poor's Ratings Services raised its Standard & Poor's underlying rating (SPUR) on San Benito Consolidated Independent School District, Texas' GO bonds outstanding one notch to 'A-' from 'BBB+' based on the continued expansion of the district's assessed valuation (AV) growth, steady student enrollment, and continued strong financial position. Standard & Poor's also assigned its 'AAA' enhanced rating and 'A-' SPUR, and stable outlook, to the district's $36.905 million series 2004 unlimited-tax GO school building bonds. The enhanced rating is based on the security of the Texas Permanent School Fund guarantee. Factors that support the rating include the district's: Significant revenue-raising flexibility because it currently operates well below the state-mandated cap for its operating and maintenance property tax rate,...
Companies mentioned in this report are:
- San Benito Cons Indpt Sch Dist
Action: New Rating
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