San Benito Consolidated Independent School District, Texas; School State Program Aug 08

Standard & Poors, August 2008

Abstract
Standard & Poor's Ratings Services raised its issuer credit rating (ICR) on San Benito Consolidated Independent School District, Texas' existing general obligation (GO) debt to 'A' from 'A-' due to the district's economic growth and limited capital needs. Standard & Poor's also assigned its 'AAA' enhanced standard long-term rating and 'A' ICR to the district's $37 million series 2008 unlimited-tax GO school building bonds. The enhanced rating reflects the security of the Texas Permanent School Fund Guarantee. The SPUR reflects the district's: Consistent property tax base expansion; Strong reserve levels; and Receipt of strong state support for operations and debt service. Mitigating factors include the district's: Low wealth and income indicators; High unemployment rate; and Moderate overall net debt burden....

Companies mentioned in this report are: San Benito Cons Indpt Sch Dist
Action: New Rating

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: Full Analysis

San Benito Cons Indpt Sch Dist

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