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Summary: San Benito Cons Indpt Sch Dist , TX; Tax Secured, School State Program Apr 05 Product Image

Summary: San Benito Cons Indpt Sch Dist , TX; Tax Secured, School State Program Apr 05

  • ID: 2024456
  • April 2005
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' enhanced rating and 'A-' Standard & Poor's underlying rating (SPUR), and stable outlook, to San Benito Consolidated Independent School District, Texas' series 2005 unlimited-tax GO refunding 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, Significant revenue-raising flexibility because it currently operates well below the state-mandated cap for its operating and maintenance property tax rate, and Receipt of strong state support for operations and debt service. Mitigating factors include the district's: Limited local economy, Below-average wealth and income indicators, and High unemployment. An ad valorem pledge on all taxable property within the district secures...

Companies mentioned in this report are:
- San Benito Cons Indpt Sch Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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