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Summary: Stephenville Independent School District, Texas; School State Program Nov 11
Standard & Poors, November 2011
Standard & Poor's Ratings Services assigned its 'AAA' program rating and 'A+' school issuer credit rating (ICR) and stable outlook to Stephenville 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 program rating reflects our opinion of the district's eligibility for, and participation in, the Texas Permanent School Fund guarantee. The ICR reflects our opinion of the district's: Very strong finances; and Low debt with, what we consider, rapid amortization. We believe a lack of significant depth in the district's economic base, indicated by, what we regard as, good, but below-average, income, somewhat constrains the rating. An...
Companies mentioned in this report are: Stephenville Indpt Sch Dist,Texas Perm Sch Fd
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.
Stephenville Indpt Sch Dist,Texas Perm Sch Fd